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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Has Verizon Communications (VZ) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

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? One simple way to answer this question is to take a look at the year-to-date performance of VZ and the rest of the Computer and Technology group's stocks.

Verizon Communications is a member of our Computer and Technology group, which includes 638 different companies and currently sits at #9 in the Zacks Sector Rank. 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).

The Zacks Consensus Estimate for VZ's full-year earnings has moved 1.22% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, VZ has moved about 6.49% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 22.98% on average. This means that Verizon Communications is performing better than its sector in terms of year-to-date returns.

Looking more specifically, VZ belongs to the Wireless National industry, which includes 16 individual stocks and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 20.32% so far this year, so VZ is slightly underperforming its industry in this area.

Investors in the Computer and Technology sector will want to keep a close eye on VZ as it attempts to continue its solid performance.


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