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Is First Solar (FSLR) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is First Solar (FSLR - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
First Solar is one of 248 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 in 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. First Solar is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FSLR's full-year earnings has moved 56.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FSLR has returned about 43.1% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -0.5%. This shows that First Solar is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, PBF Energy (PBF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 11.5%.
For PBF Energy, the consensus EPS estimate for the current year has increased 14.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, First Solar belongs to the Solar industry, a group that includes 15 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 5.4% so far this year, so FSLR is performing better this group in terms of year-to-date returns.
In contrast, PBF Energy falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 16 stocks and is ranked #16. Since the beginning of the year, the industry has moved -2.8%.
First Solar and PBF Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.