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Are Computer and Technology Stocks Lagging Mitsubishi Electric (MIELF) This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Mitsubishi Electric Corporation (MIELF - 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 Computer and Technology sector should help us answer this question.
Mitsubishi Electric Corporation is a member of our Computer and Technology group, which includes 636 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Mitsubishi Electric Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MIELF's full-year earnings has moved 417.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MIELF has moved about 51.7% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 39.2% on average. This means that Mitsubishi Electric Corporation is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, NetEase (NTES - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 41.1%.
In NetEase's case, the consensus EPS estimate for the current year increased 15.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Mitsubishi Electric Corporation is a member of the Electronics - Miscellaneous Products industry, which includes 33 individual companies and currently sits at #184 in the Zacks Industry Rank. Stocks in this group have gained about 15.9% so far this year, so MIELF is performing better this group in terms of year-to-date returns.
On the other hand, NetEase belongs to the Internet - Software and Services industry. This 12-stock industry is currently ranked #63. The industry has moved +22.3% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Mitsubishi Electric Corporation and NetEase as they attempt to continue their solid performance.
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Are Computer and Technology Stocks Lagging Mitsubishi Electric (MIELF) This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Mitsubishi Electric Corporation (MIELF - 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 Computer and Technology sector should help us answer this question.
Mitsubishi Electric Corporation is a member of our Computer and Technology group, which includes 636 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Mitsubishi Electric Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MIELF's full-year earnings has moved 417.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MIELF has moved about 51.7% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 39.2% on average. This means that Mitsubishi Electric Corporation is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, NetEase (NTES - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 41.1%.
In NetEase's case, the consensus EPS estimate for the current year increased 15.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Mitsubishi Electric Corporation is a member of the Electronics - Miscellaneous Products industry, which includes 33 individual companies and currently sits at #184 in the Zacks Industry Rank. Stocks in this group have gained about 15.9% so far this year, so MIELF is performing better this group in terms of year-to-date returns.
On the other hand, NetEase belongs to the Internet - Software and Services industry. This 12-stock industry is currently ranked #63. The industry has moved +22.3% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Mitsubishi Electric Corporation and NetEase as they attempt to continue their solid performance.