Has Verizon Communications (VZ) Outpaced Other Computer and Technology Stocks This Year?
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? Let's take a closer look at the stock's year-to-date performance to find out.
Verizon Communications is a member of our Computer and Technology group, which includes 629 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. VZ is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for VZ's full-year earnings has moved 0.62% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, VZ has gained about 5.85% so far this year. At the same time, Computer and Technology stocks have gained an average of 28.34%. This shows that Verizon Communications is outperforming its peers so far this year.
Looking more specifically, VZ belongs to the Wireless National industry, a group that includes 15 individual stocks and currently sits at #91 in the Zacks Industry Rank.
Investors with an interest in Computer and Technology stocks should continue to track VZ. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.