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Is Ciena (CIEN) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ciena (CIEN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Ciena is one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 13.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CIEN has returned 26.92% so far this year. In comparison, Computer and Technology companies have returned an average of 21.50%. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, which includes 2 individual stocks and currently sits at #102 in the Zacks Industry Rank. On average, this group has gained an average of 21.70% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CIEN as it looks to continue its solid performance.
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Is Ciena (CIEN) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ciena (CIEN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Ciena is one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 13.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CIEN has returned 26.92% so far this year. In comparison, Computer and Technology companies have returned an average of 21.50%. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, which includes 2 individual stocks and currently sits at #102 in the Zacks Industry Rank. On average, this group has gained an average of 21.70% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CIEN as it looks to continue its solid performance.