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Is Canadian Solar (CSIQ) Outperforming Other Oils-Energy Stocks This Year?

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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Canadian Solar (CSIQ) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Canadian Solar is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #9 within 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 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. CSIQ is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CSIQ's full-year earnings has moved 4.66% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, CSIQ has gained about 3.01% so far this year. At the same time, Oils-Energy stocks have gained an average of 13.82%. This means that Canadian Solar is outperforming the sector as a whole this year.

To break things down more, CSIQ belongs to the Solar industry, a group that includes 13 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has lost an average of 2.64% so far this year, meaning that CSIQ 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 CSIQ as it looks to continue its solid performance.