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Is Ericsson (ERIC) Outperforming Other Computer and Technology Stocks 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 one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for ERIC's full-year earnings has moved 23.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ERIC has returned about 4.74% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 32.83%. This shows that Ericsson is outperforming its peers so far this year.
Looking more specifically, ERIC belongs to the Wireless Equipment industry, which includes 14 individual stocks and currently sits at #33 in the Zacks Industry Rank. This group has gained an average of 26.47% so far this year, so ERIC is slightly underperforming its industry in this area.
ERIC will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Is Ericsson (ERIC) Outperforming Other Computer and Technology Stocks 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 one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for ERIC's full-year earnings has moved 23.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ERIC has returned about 4.74% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 32.83%. This shows that Ericsson is outperforming its peers so far this year.
Looking more specifically, ERIC belongs to the Wireless Equipment industry, which includes 14 individual stocks and currently sits at #33 in the Zacks Industry Rank. This group has gained an average of 26.47% so far this year, so ERIC is slightly underperforming its industry in this area.
ERIC will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.