Verizon Communications (VZ) Ascends While Market Falls: Some Facts to Note

In the latest market close, Verizon Communications (VZ) reached $42.55, with a +0.07% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq lost 0.18%.Coming into today, shares of the largest U.S. cellphone carrier had gained 3.3% in the past month. In that same time, the Computer and Technology sector gained 7.09%, while the S&P 500 gained 6.66%.The upcoming earnings release of Verizon Communications will be of great interest to investors. The company's upcoming EPS is projected at $1.11, signifying a 2.78% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $35.65 billion, up 1.49% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of $4.61 per share and a revenue of $134.76 billion, demonstrating changes of -2.12% and +0.58%, respectively, from the preceding year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Verizon Communications is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that Verizon Communications has a Forward P/E ratio of 9.21 right now. This represents a discount compared to its industry's average Forward P/E of 21.4.Also, we should mention that VZ has a PEG ratio of 3.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. VZ's industry had an average PEG ratio of 3.09 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 139, which puts it in the bottom 45% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks