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Has Ciena (CIEN) Outpaced Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Ciena (CIEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CIEN and the rest of the Computer and Technology group's stocks.
Ciena is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #8. 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. CIEN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 12.25% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CIEN has returned 27.69% so far this year. At the same time, Computer and Technology stocks have gained an average of 16.40%. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, a group that includes 2 individual stocks and currently sits at #3 in the Zacks Industry Rank. On average, this group has gained an average of 20.72% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CIEN as it attempts to continue its solid performance.
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Has Ciena (CIEN) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Ciena (CIEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CIEN and the rest of the Computer and Technology group's stocks.
Ciena is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #8. 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. CIEN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 12.25% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CIEN has returned 27.69% so far this year. At the same time, Computer and Technology stocks have gained an average of 16.40%. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, a group that includes 2 individual stocks and currently sits at #3 in the Zacks Industry Rank. On average, this group has gained an average of 20.72% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CIEN as it attempts to continue its solid performance.