AT&T (T - Free Report) closed at $29.12 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.21%.
Prior to today's trading, shares of the telecommunications company had lost 2.38% over the past month. This has lagged the Computer and Technology sector's gain of 0.89% and the S&P 500's gain of 0.49% in that time.
Wall Street will be looking for positivity from T as it approaches its next earnings report date. In that report, analysts expect T to post earnings of $0.77 per share. This would mark a year-over-year decline of 18.09%. Meanwhile, our latest consensus estimate is calling for revenue of $41.67 billion, down 6.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.21 per share and revenue of $169.54 billion, which would represent changes of -10.08% and -6.43%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for T. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% lower. T is currently a Zacks Rank #3 (Hold).
In terms of valuation, T is currently trading at a Forward P/E ratio of 9.08. For comparison, its industry has an average Forward P/E of 23.86, which means T is trading at a discount to the group.
Meanwhile, T's PEG ratio is currently 1.64. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. T's industry had an average PEG ratio of 4.24 as of yesterday's close.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 114, which puts it in the top 45% 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.