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In the latest trading session, Verizon Communications (VZ) closed at $51.29, marking a -0.21% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.15%.
Prior to today's trading, shares of the largest U.S. cellphone carrier had gained 11.18% over the past month. This has outpaced the Computer and Technology sector's loss of 1.03% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be July 22, 2022. On that day, Verizon Communications is projected to report earnings of $1.35 per share, which would represent a year-over-year decline of 1.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.59 billion, down 0.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.40 per share and revenue of $136.37 billion, which would represent changes of +0.19% and +2.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 9.52. This represents a discount compared to its industry's average Forward P/E of 29.79.
It is also worth noting that VZ currently has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless National was holding an average PEG ratio of 2.05 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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.
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Verizon Communications Inc. (VZ) : Free Stock Analysis Report
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