Is Bloom Energy (BE) Outperforming Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Bloom Energy (BE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Bloom Energy is one of 268 companies in the Oils-Energy group. The Oils-Energy group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. BE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BE's full-year earnings has moved 36.43% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, BE has returned 103.08% so far this year. At the same time, Oils-Energy stocks have lost an average of 42.56%. This means that Bloom Energy is performing better than its sector in terms of year-to-date returns.
Looking more specifically, BE belongs to the Alternative Energy - Other industry, a group that includes 16 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have lost 19.07% this year, meaning that BE is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on BE as it attempts to continue its solid performance.
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