Back to top

Image: Bigstock

Is General Electric (GE) Outperforming Other Conglomerates Stocks This Year?

Read MoreHide Full Article

Investors focused on the Conglomerates space have likely heard of General Electric (GE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

General Electric is one of 22 individual stocks in the Conglomerates sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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 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. GE is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GE's full-year earnings has moved 9.57% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that GE has returned about 19.35% since the start of the calendar year. In comparison, Conglomerates companies have returned an average of 15.20%. This means that General Electric is performing better than its sector in terms of year-to-date returns.

Looking more specifically, GE belongs to the Diversified Operations industry, a group that includes 22 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 15.20% so far this year, so GE is performing better this group in terms of year-to-date returns.

Investors in the Conglomerates sector will want to keep a close eye on GE as it attempts to continue its solid performance.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

General Electric Company (GE) - free report >>

Published in