AT&T (T - Free Report) closed at $29.58 in the latest trading session, marking a +0.14% move from the prior day. The stock outpaced the S&P 500's daily loss of 2.48%. Meanwhile, the Dow lost 2.83%, and the Nasdaq, a tech-heavy index, lost 3.04%.
Heading into today, shares of the telecommunications company had lost 3.87% over the past month, outpacing the Computer and Technology sector's loss of 7.27% and the S&P 500's loss of 8.82% in that time.
Investors will be hoping for strength from T as it approaches its next earnings release, which is expected to be January 30, 2019. On that day, T is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 8.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.44 billion, up 16.24% from the year-ago period.
Any recent changes to analyst estimates for T should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.48% higher within the past month. T is currently a Zacks Rank #3 (Hold).
In terms of valuation, T is currently trading at a Forward P/E ratio of 8.16. This valuation marks a discount compared to its industry's average Forward P/E of 22.24.
It is also worth noting that T currently has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless National stocks are, on average, holding a PEG ratio of 1.98 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.