Verizon Communications (VZ) Stock Falls Amid Market Uptick: What Investors Need to Know

Zacks Equity Research
·3-min read

In the latest trading session, Verizon Communications (VZ) closed at $41.08, marking a -0.22% move from the previous day. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.

Prior to today's trading, shares of the largest U.S. cellphone carrier had gained 3.6% over the past month. This has lagged the Computer and Technology sector's gain of 4.06% and outpaced the S&P 500's gain of 2.83% in that time.

Market participants will be closely following the financial results of Verizon Communications in its upcoming release. The company plans to announce its earnings on July 22, 2024. The company's earnings per share (EPS) are projected to be $1.15, reflecting a 4.96% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $33.06 billion, up 1.44% from the prior-year quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.59 per share and a revenue of $135.02 billion, signifying shifts of -2.55% and +0.78%, respectively, from the last year.

Investors might also notice recent changes to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Verizon Communications boasts a Zacks Rank of #3 (Hold).

Looking at valuation, Verizon Communications is presently trading at a Forward P/E ratio of 8.97. This denotes a discount relative to the industry's average Forward P/E of 19.72.

It's also important to note that VZ currently trades at a PEG ratio of 2.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless National was holding an average PEG ratio of 2.99 at yesterday's closing price.

The Wireless National industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 186, this industry ranks in the bottom 27% of all industries, numbering over 250.

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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Potential BlackRock withdrawal could hit Malaysia’s investment and job market, says Tengku Zafrul

    KUALA LUMPUR, June 27 — Malaysia will face significant negative impacts if BlackRock Inc withdraws its investments from...

  • What we know so far: RM24.2m fraudulent withdrawal in Kota Kinabalu’s MBSB Bank

    KUALA LUMPUR, June 27 — Early this month, a whopping RM24.2 million in total was taken out from several fixed deposit ac...

  • MYAirline co-founder is being sued again, by over 200 investors this time

    KUALA LUMPUR, June 28 — MYAirline Sdn Bhd co-founder Datuk Allan Goh Hwan Hua is being sued again, but from a different...

  • Michael Jackson Was More Than $500M In Debt When He Died

    When Michael Jackson died on June 25, 2009, he was more than $500 million in debt, according to court documents filed last week in Los Angeles. Jackson died at 50 while preparing for his extended “This Is It” residency at the 02 Arena in London, which was scheduled to run from July 2009 to March …

  • Toyota's May global output slides with marked decline in China

    Toyota's global production slid for a fourth straight month in May from a year earlier on lower output in many overseas markets, with the decline in China, where local brands have become much more competitive, particularly sharp. In China, production fell 22%. The Japanese automaker also had lower production in markets such as Thailand, Mexico, Brazil and France although the U.S. and Japan saw output grow.

  • Why Virtus Investment Partners (VRTS) is a Great Dividend Stock Right Now

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Virtus Investment Partners (VRTS) have what it takes? Let's find out.

  • Is Kirby (KEX) Stock Outpacing Its Transportation Peers This Year?

    Here is how Kirby (KEX) and Matson (MATX) have performed compared to their sector so far this year.

  • Investors have no idea how exposed they are to the next market crash

    Before we read too much into Nvidia’s £400bn share price slide, let’s put it in context.

  • AMD Stock Down 8% in a Month: Is It Worth Buying the Dip?

    AMD shares have dipped in the past month, reflecting a shift in market sentiment amid the growing dominance of NVIDIA.

  • Ether to Hit $6.5K Later This Year Driven by Inflows Into Spot ETFs: Analyst

    The crypto market is being overly pessimistic about the imminent launch of spot ether ETFs in the U.S. and net inflows could hit $20 billion in the first year, Steno Research said.

  • McDonald's needs consistency in value meal messaging: Analyst

    First, it was the chicken sandwich wars, now fast food chains are going all in on competing value meals. Citi Director and Restaurant Analyst Jon Tower comes onto Market Domination to talk about how he envisions these value meal strategies panning out for the competing brands, which now includes McDonald's (MCD), Wendy's (WEN), Restaurant Brands International's (QSR) Burger King, and Yum! Brands' (YUM) Taco Bell. "Many of them have come to reasonable levels in terms of what they're going to promote, when they're going to promote it, how they're going to do it. And I think it should start moving the needle for traffic," Tower says about the relationships between franchisees and franchisors. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan. Catch more of Yahoo Finance's coverage on the latest fast food value meals: Are consumers responding to fast food's new value options? Fast food chains lean into value this summer. Will it be enough to boost their lagging stocks? McDonald's $5 value meal hits menus as the Golden Arches looks to bring customers back Taco Bell joins the fast food value meal trend McDonald's officially adds $5 value meal to menu UBS maintains McDonald's Buy rating, cites value meal boost The key to value meals: Don't 'sacrifice' quality for price Fast food companies compete for the best value meal

  • BP halts hiring, slows renewables roll-out to win over investors

    BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss to slow down investments in big budget, low-carbon projects, particularly in offshore wind, that are not expected to generate cash for years, said several sources at BP who declined to be named. They mark a stark reversal from the direction the CEO's predecessor Bernard Looney took to rapidly move away from fossil fuels.

  • 3 Top-Ranked Mutual Funds for Your Retirement

    Adding these three top-ranked, best-performing, and well-managed mutual funds to your retirement portfolio could maximize your returns.

  • Global stocks mixed as markets await French vote, US debate

    Global stocks were mixed Thursday as Europe geared up for key elections, the United States awaited influential inflation data and a presidential debate, and Japan contemplated measures to strengthen the yen.Wall Street stocks finished modestly higher after a choppy session, with investors looking ahead to key inflation data as well as Thursday night's presidential debate featuring US President Joe Biden and his predecessor Donald Trump.

  • Should Vanguard Mega Cap ETF (MGC) Be on Your Investing Radar?

    Style Box ETF report for MGC

  • Stock market today: Stocks inch higher with key inflation print looming

    A sell-off in Micron put a dent in the AI bullishness that has fueled the tech-driven rally, as investors eye fresh economic data.

  • Buyback Bonanza: 3 Companies Scooping Up Shares

    Buybacks can provide a nice confidence boost for investors, indicating that the company is utilizing excess cash and can help put in a floor for shares.

  • 5 Reasons to Own Tesla into Year-End

    If Elon Musk and Tesla can execute on their new plan, investors should expect shares to rise much higher in 6-12 months. Stock Strategist Andrew Rocco breaks it all down.

  • Inflation data cheers Wall Street, French stocks slump

    Wall Street stocks climbed Friday after data showing cooling US inflation raised hopes of an interest-rate cut, while French equities slid before a weekend election that could see strong gains for the far right.Wall Street stocks advanced, the Dow adding 0.2 percent.

  • Presidential debate: Will Trump, Biden move markets tonight?

    It's debate night as President Biden and former President Trump — the presumed nominees of their respective parties ahead of the national conventions — will face off tonight. What subjects will they tackle on the debate stage and which of their policies could spark movement in the markets (^DJI, ^IXIC, ^GSPC)? Yahoo Finance Senior Columnist Rick Newman talks about whether this initial debate will be as market-moving as other economic data, and what investors and consumers should be listening for from each candidate. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan. Catch up on Yahoo Finance's latest coverage of the 2024 election cycle and both candidates' policies: Presidential debate: Tax plans will be vital for Trump, Biden The one issue Biden and Trump are both eager to talk about during their first debate: Taxes What to expect from Thursday's presidential debate Don’t count on any more Trump tax cuts 2025 will see 'Part Two' of the US-China trade war 2024 election: What to expect from fiscal policy agendas The 3 things everybody gets wrong about US presidents Democrats are 'all over the place' with messaging: Policy expert Test what you know about the economic résumés of Biden and Trump US presidents may not control the economy as much as you think These Trump policies could be inflationary Janet Yellen says Trump tariffs will 'make life unaffordable' 3 surprises that could upend the 2024 election Trump-era tax cuts to expire after 2025. Why it matters