NEW YORK (

TheStreet

) --

Telecom Corporation of New Zealand

(NYSE:

NZT

) hit a new 52-week high Thursday as it is currently trading at $9.22, above its previous 52-week high of $9.21 with 319,624 shares traded as of 12:50 p.m. ET. Average volume has been 641,300 shares over the past 30 days.

Telecom Corporation of New Zealand has a market cap of $3.5 billion and is part of the

technology

sector and

telecommunications

industry. Shares are up 9.4% year to date as of the close of trading on Wednesday.

Telecom Corporation of New Zealand Limited, together with its subsidiaries, provides telecommunications services, as well as information, communication, and technology services in New Zealand and Australia. The company has a P/E ratio of 3.7, below the average telecommunications industry P/E ratio of 22 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Telecom Corporation of New Zealand as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Telecom Corporation of New Zealand Ratings Report

.

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