Why the Market Dipped But Verizon Communications (VZ) Gained Today

Verizon Communications (VZ) closed at $44.21 in the latest trading session, marking a +1.07% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.57%, and the technology-dominated Nasdaq saw a decrease of 0.33%. Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 2.67% lagged the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 2.57%.Investors will be eagerly watching for the performance of Verizon Communications in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.2, signifying a 0.84% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $34.05 billion, showing a 2.15% escalation compared to the year-ago quarter. VZ's full-year Zacks Consensus Estimates are calling for earnings of $4.7 per share and revenue of $138.17 billion. These results would represent year-over-year changes of +2.4% and +2.51%, respectively. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold). In the context of valuation, Verizon Communications is at present trading with a Forward P/E ratio of 9.3. This denotes a discount relative to the industry average Forward P/E of 21.29. Also, we should mention that VZ has a PEG ratio of 3.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Wireless National was holding an average PEG ratio of 3.37 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 171, which puts it in the bottom 31% 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. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks