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Is Renesola (SOL) Outperforming Other Oils-Energy Stocks This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Renesola (SOL - Free Report) 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? One simple way to answer this question is to take a look at the year-to-date performance of SOL and the rest of the Oils-Energy group's stocks.
Renesola is one of 253 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SOL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SOL's full-year earnings has moved 287.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SOL has moved about 100.18% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 10.39%. This means that Renesola is outperforming the sector as a whole this year.
Looking more specifically, SOL belongs to the Solar industry, a group that includes 13 individual stocks and currently sits at #106 in the Zacks Industry Rank. On average, this group has gained an average of 6.58% so far this year, meaning that SOL is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SOL as it looks to continue its solid performance.
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Is Renesola (SOL) Outperforming Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Renesola (SOL - Free Report) 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? One simple way to answer this question is to take a look at the year-to-date performance of SOL and the rest of the Oils-Energy group's stocks.
Renesola is one of 253 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SOL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SOL's full-year earnings has moved 287.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SOL has moved about 100.18% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 10.39%. This means that Renesola is outperforming the sector as a whole this year.
Looking more specifically, SOL belongs to the Solar industry, a group that includes 13 individual stocks and currently sits at #106 in the Zacks Industry Rank. On average, this group has gained an average of 6.58% so far this year, meaning that SOL is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SOL as it looks to continue its solid performance.