Investors focused on the Computer and Technology space have likely heard of Verizon Communications (VZ - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Verizon Communications is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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).
Over the past 90 days, the Zacks Consensus Estimate for VZ's full-year earnings has moved 1.18% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, VZ has gained about 8.18% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 25.06% on a year-to-date basis. This means that Verizon Communications is outperforming the sector as a whole this year.
Looking more specifically, VZ belongs to the Wireless National industry, a group that includes 15 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, this group has gained an average of 23.71% so far this year, meaning that VZ is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on VZ as it attempts to continue its solid performance.