Yahoo Finance Verizon (VZ) Looks to Offer Uninterrupted Service Amid Outage
Verizon Communications Inc VZ recently announced that it is set to keep its services uninterrupted in the face of possible power outages, which include Public Safety Power Shutoff (PSPS) events in Hawaii commencing this week.
Wildfires, worsened by climate change, pose an increasing risk in Hawaii and nationwide. A PSPS would turn off power in certain areas before extreme weather to reduce wildfire risk. However, the success of this event relies entirely on coordination between the government, first responders, service providers, and communities.
As a responsible communication services provider, Verizon is committed to ensuring the safety and convenience of its customers. Thus, the company maintains an inventory of backup power resources to keep its network working in the event of any commercial power outages. These resources should enable Verizon to continue its facilities 24/7 so that customers facing any emergency can use their mobile & other electronic devices without any network-related issues.
Image Source: Zacks Investment Research
Based in New York, Verizon is one of the world’s leading providers of technology and communications services. The company provides data, video, and voice services through its multiple networks and platforms, meeting customers' needs for mobility, reliable connectivity, and security.
Verizon reported its first-quarter 2024 adjusted earnings per share (EPS) of $1.15, which declined 4.2% on a year-over-year basis. Total consolidated operating revenues in first-quarter 2024 was $33 billion, up 0.2% from first-quarter 2023. Pricing actions implemented in recent quarters, combined with improved operating results, were the main drivers behind this growth.
VZ’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 2.83%. Shares of VZ have gained 9.7% in the past year compared with the subindustry’s growth of 18%. The long-term earnings growth rate is 2.4%.
Zacks Rank and Stocks to Consider
Currently, Verizon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth consideration in the broader technology space are NVIDIA Corporation NVDA, Onto Innovation Inc. ONTO and Woodward, Inc. WWD. Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVDA’s fiscal 2024 EPS is pegged at $2.68. The long-term earnings growth rate is 37.6%. NVDA’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 18.4%. Shares of NVDA have surged 203.1% compared with the sub-industry’s growth of 153.2% in the past year.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
The Zacks Consensus Estimate for ONTO’s 2024 EPS is pegged at $5.05. ONTO’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average surprise being 2.6%. Shares of ONTO have soared 107.5% compared with the sub-industry’s growth of 95.2% in the past year.
Headquartered in Wilmington, MA, Onto Innovation specializes in the design, development, manufacture and support of metrology and inspection tools primarily for semiconductor device fabricators, silicon wafer manufacturers and advanced packaging manufacturers in the semiconductor space.
The Zacks Consensus Estimate for WWD’s fiscal 2024 EPS has increased 6.5% in the past 60 days to $5.88. Woodward’s earnings beat the Zacks Consensus Estimate in all the last four quarters. The average earnings surprise is 26.1%. Shares of WWD have soared 48% compared with the sub-industry’s growth of 17.8% in the past year.
Headquartered in Fort Collins, CO, Woodward is an independent designer, manufacturer and service provider of energy control and optimization solutions for the aerospace and industrial markets. Apart from serving original equipment manufacturers, it also engages in aftermarket repairs, replacements and other service support operations for installed products.
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
NVIDIA Corporation (NVDA): Free Stock Analysis Report
Woodward, Inc. (WWD) : Free Stock Analysis Report
Onto Innovation Inc. (ONTO): Free Stock Analysis Report
