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Is Ericsson (ERIC) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors focused on the Computer and Technology space have likely heard of Ericsson (ERIC - 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 ERIC and the rest of the Computer and Technology group's stocks.
Ericsson is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ERIC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ERIC's full-year earnings has moved 20.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ERIC has returned 7.44% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.34%. As we can see, Ericsson is performing better than its sector in the calendar year.
Looking more specifically, ERIC belongs to the Wireless Equipment industry, a group that includes 15 individual stocks and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have gained about 12.62% so far this year, so ERIC is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ERIC as it attempts to continue its solid performance.
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Is Ericsson (ERIC) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Ericsson (ERIC - 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 ERIC and the rest of the Computer and Technology group's stocks.
Ericsson is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ERIC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ERIC's full-year earnings has moved 20.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ERIC has returned 7.44% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.34%. As we can see, Ericsson is performing better than its sector in the calendar year.
Looking more specifically, ERIC belongs to the Wireless Equipment industry, a group that includes 15 individual stocks and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have gained about 12.62% so far this year, so ERIC is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ERIC as it attempts to continue its solid performance.