In the latest trading session, AT&T (T) closed at $28.47, marking a +0.07% move from the previous day. This move lagged the S&P 500's daily gain of 0.35%.Prior to today's trading, shares of the telecommunications company had lost 2.97% over the past month. This has lagged the Computer and Technology sector's gain of 5.62% and the S&P 500's gain of 3.64% in that time.Investors will be hoping for strength from T as it approaches its next earnings release, which is expected to be July 22, 2021. In that report, analysts expect T to post earnings of $0.78 per share. This would mark a year-over-year decline of 6.02%. Our most recent consensus estimate is calling for quarterly revenue of $42.59 billion, up 4% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $3.17 per share and revenue of $173.35 billion, which would represent changes of -0.31% and +0.93%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for T. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. T is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, T is holding a Forward P/E ratio of 8.98. This valuation marks a discount compared to its industry's average Forward P/E of 49.36.Also, we should mention that T has a PEG ratio of 2.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wireless National stocks are, on average, holding a PEG ratio of 2.29 based on yesterday's closing prices.The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AT&T Inc. (T): Free Stock Analysis Report To read this article on Zacks.com click here.