Verizon Communications (VZ) stock has outperformed the stock market, with a 1.11% increase compared to the S&P 500's 0.63% gain. This comes after the company's shares previously lost 2.47% over the past month. Verizon is scheduled to release its earnings on April 22, 2024, with an expected EPS of $1.12, representing a 6.67% decline from the same quarter last year. However, the company's revenue is predicted to be $33.44 billion, a 1.61% increase from the year-ago quarter. Despite the expected decline in earnings, Verizon Communications is currently ranked #3 (Hold) by Zacks. The company is trading at a Forward P/E ratio of 8.6, which is a discount compared to the industry average of 17.81. The Wireless National industry, to which Verizon belongs, has a Zacks Industry Rank of 152, placing it in the bottom 40% of all industries. [65a9e7b3]
Verizon, a significant player in the financial scene, has a remarkable track record of raising its dividend for 19 consecutive years and has sustained dividend payments for 40 consecutive years. The company has a market capitalization of $151.31 billion and trades at a low P/E ratio of 7.23, suggesting it might be undervalued given its earnings growth potential. In terms of financial performance, Verizon generated revenue of $134.09 billion and a gross profit of $78.7 billion in the last twelve months as of Q3 2023. Despite a slight decrease in revenue growth, Verizon remains profitable with an operating income of $30.66 billion during the same period. [b8ff6b89]
Verizon stock has a forward dividend yield of 6.6%, making it attractive to income investors. Despite low growth, Verizon is still a fundamentally strong company. The stock has strong support above $40. Verizon's losses in postpaid phone customers could affect its valuation. Verizon's Q1 earnings showed a net loss of 68,000 postpaid phone connections. Verizon is focusing on convergence and GenAI opportunities for growth. VZ's forward adjusted P/E is 8.8x, below the sector median of 12.5x. TMUS's growth grade is more attractive than VZ's. VZ's forward adjusted PEG ratio is 6.37, while TMUS's is 0.75. VZ's price action suggests resilience and strong buying support above $40. Verizon has faced market share losses against T-Mobile and AT&T. VZ's bullish thesis is still reasonable from a risk/reward perspective. The author maintains a Buy rating on VZ. [dcfe608e]
Novartis (NVS) stock declined by -1.52% in the most recent trading session, lagging behind the S&P 500's daily loss of 0.72%. Over the past month, Novartis shares have lost 5.98%, underperforming the Medical sector's loss of 0.03% and the S&P 500's gain of 2.16%. Novartis is expected to report EPS of $1.72, up 0.58% from the prior-year quarter, and revenue of $11.41 billion, indicating a 11.9% downward movement from the same quarter last year. The Zacks Consensus Estimates predict earnings of $7.17 per share and a revenue of $47.32 billion for the entire fiscal year, indicating changes of +3.91% and -4.95%, respectively, from the former year. Novartis currently has a Zacks Rank of #4 (Sell) and is trading at a Forward P/E ratio of 13.37, which is a discount relative to the industry's average Forward P/E of 14.81. The Large Cap Pharmaceuticals industry, to which Novartis belongs, has a Zacks Industry Rank of 218, ranking in the bottom 14% of all industries. The Zacks Rank system, which takes estimate changes into account, has a track record of outperformance, with #1 ranked stocks yielding an average annual return of +25% since 1988. [7d13fbb8]
Conestoga Capital Advisors released its first-quarter 2024 investor letter, stating that NV5 Global, Inc. (NASDAQ:NVEE) is a leading provider of professional engineering and consulting services. The company's quarterly results were slightly below expectations due to softness in certain interest rate sensitive areas of the business, and the Geospatial segment experienced headwinds from federal spending delays. NV5 Global's 2024 guidance for revenue and earnings were below consensus estimates, reflecting a more conservative stance on guidance with lower-than-normal organic growth and a later recovery in federal spending in the geospatial business. The company's trailing 12 months revenue is $890.72 million, and its gross revenues in the first quarter increased 16% to $213.3 million compared to the same period in 2023. NV5 Global, Inc. is not on the list of 30 most popular stocks among hedge funds. [640239e5]