Verizon Communications (VZ) closed the most recent trading day at $35.61, moving +0.39% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Coming into today, shares of the largest U.S. cellphone carrier had lost 5.64% in the past month. In that same time, the Computer and Technology sector gained 10.74%, while the S&P 500 gained 4.61%.
Verizon Communications will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2023. On that day, Verizon Communications is projected to report earnings of $1.17 per share, which would represent a year-over-year decline of 10.69%. Meanwhile, our latest consensus estimate is calling for revenue of $33.53 billion, down 0.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.68 per share and revenue of $135.08 billion. These totals would mark changes of -9.65% and -1.28%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Verizon Communications's current valuation metrics, including its Forward P/E ratio of 7.57. Its industry sports an average Forward P/E of 18.81, so we one might conclude that Verizon Communications is trading at a discount comparatively.
We can also see that VZ currently has a PEG ratio of 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless National industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Verizon Communications Inc. (VZ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not … Continue reading → The post What Percentage of Retirees Have a Million Dollars? appeared first on SmartAsset Blog.
A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years. The Tax Cuts for Working Families Act (H.R.3936) recently approved by … Continue reading → The post Temporary Tax Plan Could Boost Your Standard Deduction By Up to $4,000 appeared first on SmartAsset Blog.
Managing your taxes can be one of the most complex aspects of estate planning and a new IRS rule change continues that trend. The rule, published at the end of March, changes how the step-up in basis applies to assets held in an irrevocable trust. If you need help interpreting the IRS rule change or setting […] The post Want to Leave Assets to Heirs? IRS Rule Change Should Have You Rethinking Your Irrevocable Trust appeared first on SmartReads CMS – SmartAsset.
(Reuters) -The interest rate on the most common type of U.S. residential mortgage plunged last week by the most in nearly 16 months on the back of a rally in the Treasury market that drove down the benchmark yields used to set home loan costs. The Mortgage Bankers Association (MBA) on Wednesday said the average contract rate on a 30-year fixed-rate mortgage dropped in the week ended Nov. 3 by a quarter percentage point to 7.61%, the lowest in about a month. That months-long updraft in yields saw a sharp reversal last week after the U.S. Treasury said upcoming debt issuance would be somewhat less than previously expected and the Federal Reserve left its key overnight policy rate on hold for a second straight meeting.
The tax agency announced this week a host of improvements to help Americans file their taxes next year.
Although the revenue and EPS for AMC Entertainment (AMC) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Rivian now expects to build more than six times the number of electric vehicles that Lucid now aspires to for this year.
Disney's fiscal Q4 report marks the first time the media giant is delivering earnings under a new reporting structure that breaks out ESPN's financials.
Devon Energy's (DVN) third-quarter production volumes are better than the year-ago quarter's level due to solid contributions from the Delaware Basin.
For this week’s Barron’s Advisor Big Q, we asked financial advisors to describe the costliest mistakes that very wealthy individuals tend to make. And they usually underestimate the luck involved in that—being in the right place at the right time, knowing the right people, etc. And having had that windfall, they will invest in private equity or venture capital investments.
Start investing for your baby with these CPA’s tips.
Baby boomers tend to be viewed as one group. But thanks to the Great Recession, younger boomers have had a much harder time saving for retirement.
AMC Entertainment beat expectations for the third quarter, getting a boost from this summer’s blockbuster movie phenomenon known as Barbenheimer. Barbie, by Warner Bros., has brought in $1.4 billion in worldwide box office sales since July 19, according to BoxOfficeMojo.com, while Universal’s Oppenheimer has sold $948 million worldwide. Analysts expected AMC (ticker: AMC) to report a loss of 25 cents a share on revenue of $1.26 billion.
Anthony Scaramucci, founder and managing partner of SkyBridge Capital, said during the Yahoo Finance Invest conference that he hopes to claw back the 30% stake that FTX had taken in his firm.
A group of Google employees has published an open letter calling out an alleged double standard in the company related to freedom of expression surrounding the Israel-Hamas war. The letter condemns “hate, abuse and retaliation” within the company against Muslim, Arab, and Palestinian workers and demands it pulls out of Project Nimbus.
Is Pfizer stock a sell after the company reported massive sales declines for Covid products? Is PFE stock a sell?
High fuel costs and elevated capital expenditures do not bode well for Spirit Airlines' (SAVE) bottom line.
The FDA approved a highly anticipated weight-loss drug from Eli Lilly on Wednesday. Eli Lilly stock popped on the approval news.
Warner Bros. Discovery Chief Executive David Zaslav said the company is now in a position to spend more on potential acquisitions after paying off billions of dollars of debt. “We could be really opportunistic over the next 12 to 24 months,” Zaslav said on a call with analysts to discuss the company's [quarterly results](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-08-2023/card/warner-bros-discovery-shares-slip-as-streaming-subscriber-numbers-shrink-eVetm4jaaTpokrwvEgS2). Warner Bros. Discovery said its streaming business [swung to a profit](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-08-2023/card/warner-bros-discovery-shares-slip-as-streaming-subscriber-numbers-shrink-eVetm4jaaTpokrwvEgS2) but lost subscribers.
(Bloomberg) — Texas billionaire and real estate investor John Goff predicted that a number of appealing properties will hit the market soon as rising interest rates force some investors to sell. Most Read from BloombergRockstar Plans to Announce Much Anticipated ‘Grand Theft Auto VI’Trump's Wealth Has Jumped $500 Million Since He Left the White HouseWeWork Goes Bankrupt, Signs Pact With Creditors to Cut DebtApple Delays Work on Next Year’s iPhone, Mac Software to Fix BugsMalaysia Renews Hamas S
