Is Verizon Communications (VZ) Outperforming 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 the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 0.60% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that VZ has returned about 6.97% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 27.45%. 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 #72 in the Zacks Industry Rank. On average, stocks in this group have gained 21.24% 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.
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