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U.S. Telecom Services and Carriers Industry Analysis

UpdatedMay 03, 2026
DataAggregated Company Financials
Companies56
  • 7D0.7%
  • 3M-0.2%
  • 1Y2.7%
  • YTD7.3%

Last week, the Telecom Services and Carriers industry hasn't moved much but Verizon Communications is up 3.7% in that time. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 8.2% annually.

Industry Valuation and Performance

Has the U.S. Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 03 May 2026US$539.0bUS$410.1bUS$49.7b12.7x10.8x1.3x
Tue, 31 Mar 2026US$575.6bUS$406.4bUS$51.3b13.7x11.2x1.4x
Thu, 26 Feb 2026US$581.1bUS$406.4bUS$50.8b10x11.4x1.4x
Sat, 24 Jan 2026US$508.8bUS$404.0bUS$61.5b9.7x8.3x1.3x
Mon, 22 Dec 2025US$399.9bUS$284.0bUS$38.4b9.3x10.4x1.4x
Wed, 19 Nov 2025US$406.1bUS$284.0bUS$38.4b9x10.6x1.4x
Fri, 17 Oct 2025US$429.5bUS$286.5bUS$25.5b14x16.9x1.5x
Sun, 14 Sep 2025US$447.0bUS$286.5bUS$25.5b15.1x17.5x1.6x
Tue, 12 Aug 2025US$433.1bUS$286.4bUS$25.5b15.5x17x1.5x
Thu, 10 Jul 2025US$433.3bUS$282.4bUS$27.5b17.1x15.7x1.5x
Sat, 07 Jun 2025US$422.7bUS$282.3bUS$27.5b17.2x15.3x1.5x
Mon, 05 May 2025US$421.5bUS$283.3bUS$27.3b16.6x15.4x1.5x
Wed, 02 Apr 2025US$435.2bUS$281.8bUS$28.1b14x15.5x1.5x
Fri, 28 Feb 2025US$415.1bUS$281.4bUS$28.3b14.8x14.7x1.5x
Sun, 26 Jan 2025US$370.0bUS$284.2bUS$20.9b18.4x17.7x1.3x
Tue, 24 Dec 2024US$374.4bUS$284.8bUS$12.9b18.7x29x1.3x
Thu, 21 Nov 2024US$379.8bUS$281.4bUS$13.3b19x28.7x1.3x
Sat, 19 Oct 2024US$383.6bUS$281.4bUS$21.2b18.4x18.1x1.4x
Mon, 16 Sep 2024US$382.6bUS$281.4bUS$21.2b18.7x18.1x1.4x
Wed, 14 Aug 2024US$344.4bUS$281.3bUS$21.2b19x16.2x1.2x
Fri, 12 Jul 2024US$338.7bUS$281.1bUS$22.7b23.4x14.9x1.2x
Sun, 09 Jun 2024US$332.5bUS$281.1bUS$22.7b26.9x14.7x1.2x
Tue, 07 May 2024US$316.6bUS$281.5bUS$22.7b26.8x14x1.1x
Thu, 04 Apr 2024US$334.5bUS$281.7bUS$22.5b27x14.8x1.2x
Sat, 02 Mar 2024US$320.6bUS$283.9bUS$20.8b25.5x15.4x1.1x
Mon, 29 Jan 2024US$340.7bUS$300.5bUS$8.4b14.3x40.8x1.1x
Wed, 27 Dec 2023US$315.6bUS$300.0b-US$7,362,410,294.0013.3x-42.9x1.1x
Fri, 24 Nov 2023US$308.1bUS$300.0b-US$7,363,754,256.0010.1x-41.8x1x
Sun, 22 Oct 2023US$276.9bUS$301.4b-US$4,556,316,300.007.8x-60.8x0.9x
Tue, 19 Sep 2023US$285.9bUS$301.1b-US$2,062,136,533.009.5x-138.7x0.9x
Thu, 17 Aug 2023US$278.9bUS$301.0b-US$2,059,879,965.009.7x-135.4x0.9x
Sat, 15 Jul 2023US$283.8bUS$302.2bUS$9.5b12.2x29.7x0.9x
Mon, 12 Jun 2023US$300.5bUS$302.2bUS$9.5b10.8x31.6x1x
Wed, 10 May 2023US$318.6bUS$302.0bUS$11.3b11.5x28.2x1.1x
Price to Earnings Ratio

28.2x


Total Market Cap: US$318.6bTotal Earnings: US$11.3bTotal Revenue: US$302.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Telecom Services and Carriers Industry Price to Earnings3Y Average 0.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.8x which is higher than its 3-year average PE of 0.79x.
  • The industry is trading close to its 3-year average PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have grown 64% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Telecom industry?

US Market0.85%
Telecom4.03%
Telecom Services and Carriers0.74%
Integrated Telecom Services1.08%
Alternative Carriers-2.30%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry even though it's trading below its 3-year average PE ratio of 16.0x.
    • Analysts are expecting annual earnings growth of 0.3%, which is lower than the prior year's growth of 11.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Alternative Carriers industry, expecting annual earnings growth of 79% over the next 5 years.
  • This is better than its past earnings growth rate of 35% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VZ Verizon CommunicationsUS$48.113.7%
+US$7.0b		10.0%PE11.6x
BAND BandwidthUS$44.8686.0%
+US$664.0m		259.2%PS1.8x
LUMN Lumen TechnologiesUS$9.325.4%
+US$494.4m		146.6%PS0.8x
ATEX AnterixUS$49.599.8%
+US$82.8m		66.2%PE11.4x
LBTY.A Liberty GlobalUS$11.960.5%
+US$56.8m		24.1%PS0.8x

Latest News

BAND
US$44.86
Bandwidth
7D
86.0%
1Y
259.2%
LBTY.A
US$11.96
Liberty Global
7D
0.5%
1Y
24.1%
IHS
US$8.20
IHS Holding
7D
-0.6%
1Y
67.3%

IHS: MTN Cash Merger Price And Shareholder Support Will Drive Upside

Analysts have reduced their price target on IHS Holding to $8.50 from $17.00, citing the agreed acquisition by MTN Group at $8.50 per share and the high level of existing shareholder support for the deal. Analyst Commentary Recent research on IHS Holding centers on the agreed acquisition by MTN Group at US$8.50 per share, which now anchors how many analysts think about valuation and risk.
IRDM
US$39.44
Iridium Communications
7D
1.2%
1Y
56.7%

IRDM: Spectrum Optionality And Defense Connectivity Will Drive Future Upside

Analysts have raised the fair value estimate for Iridium Communications to $48 from $40, citing updated assumptions about revenue growth, profit margins, a lower discount rate, and a higher future P/E multiple, in line with a series of recent price target increases from multiple firms. Analyst Commentary Recent Street research around Iridium Communications shows a mix of views, but the most optimistic voices are focused on spectrum potential, execution on partnerships, and visibility into future cash flows.
UNIT
US$11.77
Uniti Group
7D
-1.8%
1Y
43.1%

UNIT: Neutral Rating And 2026 Loss Guidance Will Restrain Upside Potential

Analysts have lifted their consolidated price target for Uniti Group to $9, reflecting updated models after the Q4 report and recent target increases of $3 at Barclays and $1 at RBC Capital. Analyst Commentary The latest research on Uniti Group centers on modest price target adjustments and refreshed models following the Q4 report.
CMCSA
US$27.19
Comcast
7D
-1.3%
1Y
-21.1%

CMCSA: Broadband And Content Execution Will Outweigh Fiber And Policy Headwinds

Narrative Update on Comcast The updated analyst price target for Comcast reflects a modest fair value move from about $43.62 to $42.69. Analysts are weighing slightly softer revenue growth and profit margin assumptions against a higher future P/E and mixed recent research that includes several price target increases alongside downgrades citing muted growth and fiber headwinds.
ASTS
US$70.89
AST SpaceMobile
7D
-7.2%
1Y
168.3%
T
US$26.12
AT&T
7D
-0.3%
1Y
-5.4%

T: Future Returns Will Balance Heavy Network Spend And Moderating P/E Expectations

Analysts have slightly lowered their AT&T price target from about $25.11 to $25.00 as they factor in modestly different assumptions for revenue growth, profit margins, the discount rate, and the future P/E multiple. What's in the News Between January 1, 2026 and March 31, 2026, AT&T repurchased 86,199,718 shares, or 1.22% of its stock, for US$2,300m under its December 3, 2024 buyback program.
LUMN
US$9.32
Lumen Technologies
7D
5.4%
1Y
146.6%

LUMN: Execution Risk Around Profitability Will Limit Upside From AI Network Efforts

Analysts have adjusted their price targets on Lumen Technologies in a relatively tight range, with recent moves including $1 and $1.75 increases as well as a $1 cut, reflecting updated views on discount rates, profit margin assumptions, and future P/E expectations. Analyst Commentary Recent Street research has clustered around a small set of price target changes and a rating downgrade, giving you a mixed but useful snapshot of how professionals are thinking about Lumen Technologies today.
VZ
US$48.11
Verizon Communications
7D
3.7%
1Y
10.0%
SHEN
US$16.29
Shenandoah Telecommunications
7D
1.6%
1Y
36.0%

SHEN: Rural Broadband Execution And Bullish Coverage Will Support Future Upside

Analysts have adjusted their price target for Shenandoah Telecommunications to $27.50, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E after recent bullish initiations of coverage, while keeping the fair value estimate steady at $27.50. Analyst Commentary Bullish Takeaways Bullish analysts view the recent initiations as supportive of the updated valuation framework, aligning the US$27.50 price target with their assumptions on discount rate, revenue trajectory, profit margin, and future P/E.
IDT
US$51.13
IDT
7D
-1.3%
1Y
-2.5%

IDT: Buybacks And Rising Dividend Will Support Future Upside

Analysts have maintained their $80 price target for IDT, reflecting stable views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News From November 1, 2025 to January 31, 2026, IDT repurchased 149,109 shares, about 0.59% of its shares, for US$7.43 million under its existing buyback program.
CCOI
US$23.16
Cogent Communications Holdings
7D
-5.4%
1Y
-59.0%

CCOI: Future Data Center Deals And Refinancing Will Support Balance Sheet Recovery

Analysts have trimmed their average price targets on Cogent Communications Holdings by several dollars into a roughly $21 to $40 range, citing softer Q4 results, continued pressure from off net and wavelength revenue, and uncertainty around data center transactions and future growth visibility. Analyst Commentary Recent research notes show a clear reset in expectations for Cogent Communications Holdings, with price targets generally clustered in the low to mid US$20s and a few higher conviction views extending up to US$40.
GLIB.A
US$34.46
GCI Liberty
7D
-6.9%
1Y
n/a
ATEX
US$49.59
Anterix
7D
9.8%
1Y
66.2%
SIFY
US$15.64
Sify Technologies
7D
1.6%
1Y
241.5%