Investors focused on the Computer and Technology space have likely heard of Verizon Communications (VZ), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Verizon Communications is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. VZ is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for VZ's full-year earnings has moved 1.31% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, VZ has moved about 6.01% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 21.98%. This shows that Verizon Communications is outperforming its peers so far this year.
Breaking things down more, VZ is a member of the Wireless National industry, which includes 15 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, this group has gained an average of 20.76% so far this year, meaning that VZ is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track VZ. The stock will be looking to continue its solid performance.
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