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In the latest trading session, T-Mobile (TMUS) closed at $128.43, marking a +1.53% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.

Heading into today, shares of the wireless carrier had gained 2.66% over the past month, lagging the Computer and Technology sector's gain of 3.63% and the S&P 500's gain of 4.69% in that time.

T-Mobile will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, down 51.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.2 billion, up 2.25% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.51 per share and revenue of $82.02 billion, which would represent changes of -3.09% and +2.4%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for T-Mobile. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. The Zacks Consensus EPS estimate has moved 7.46% lower within the past month. T-Mobile currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, T-Mobile is holding a Forward P/E ratio of 50.45. Its industry sports an average Forward P/E of 20.74, so we one might conclude that T-Mobile is trading at a premium comparatively.

Also, we should mention that TMUS has a PEG ratio of 10.09. 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. TMUS's industry had an average PEG ratio of 2.83 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 216, which puts it in the bottom 15% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.