Verizon Communications (VZ) closed at $58.09 in the latest trading session, marking a -0.12% move from the prior day. This move was narrower than the S&P 500's daily loss of 3.24%. Meanwhile, the Dow lost 3.1%, and the Nasdaq, a tech-heavy index, lost 3.8%.Coming into today, shares of the largest U.S. cellphone carrier had gained 2.7% in the past month. In that same time, the Computer and Technology sector gained 1.25%, while the S&P 500 gained 2.73%.Wall Street will be looking for positivity from VZ as it approaches its next earnings report date. This is expected to be January 22, 2019. The company is expected to report EPS of $1.10, up 27.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.31 billion, up 1.05% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $4.68 per share and revenue of $130.91 billion, which would represent changes of +25.13% and +3.87%, respectively, from the prior year.Investors might also notice recent changes to analyst estimates for VZ. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0% lower. VZ is currently a Zacks Rank #3 (Hold).Digging into valuation, VZ currently has a Forward P/E ratio of 12.42. Its industry sports an average Forward P/E of 34.1, so we one might conclude that VZ is trading at a discount comparatively.Meanwhile, VZ's PEG ratio is currently 2.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Wireless National was holding an average PEG ratio of 4.37 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 37, which puts it in the top 14% 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.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.