Verizon Communications (VZ) Stock Slides as Market Rises: Facts to Know Before You Trade

Verizon Communications (VZ) closed at $39.61 in the latest trading session, marking a -1.61% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.55%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw an increase of 1.24%.The investment community will be closely monitoring the performance of Verizon Communications in its forthcoming earnings report. The company is scheduled to release its earnings on January 24, 2025. In that report, analysts expect Verizon Communications to post earnings of $1.11 per share. This would mark year-over-year growth of 2.78%. Meanwhile, the latest consensus estimate predicts the revenue to be $35.4 billion, indicating a 0.78% increase compared to the same quarter of the previous year.Investors might also notice recent changes to analyst estimates for Verizon Communications. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 8.52. This expresses a discount compared to the average Forward P/E of 18.34 of its industry.One should further note that VZ currently holds a PEG ratio of 3.36. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 3.36.The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 203, positioning it in the bottom 20% 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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