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Are Computer and Technology Stocks Lagging Ciena (CIEN) This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Ciena (CIEN - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Ciena is one of 597 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 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. Ciena is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 19.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CIEN has moved about 116.3% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 5.4% on a year-to-date basis. This shows that Ciena is outperforming its peers so far this year.
Fabrinet (FN - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 52.8%.
For Fabrinet, the consensus EPS estimate for the current year has increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ciena belongs to the Communication - Components industry, which includes 13 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 98.8% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
On the other hand, Fabrinet belongs to the Electronics - Miscellaneous Components industry. This 27-stock industry is currently ranked #155. The industry has moved +4.9% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Ciena and Fabrinet as they attempt to continue their solid performance.
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Are Computer and Technology Stocks Lagging Ciena (CIEN) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Ciena (CIEN - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Ciena is one of 597 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 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. Ciena is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 19.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CIEN has moved about 116.3% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 5.4% on a year-to-date basis. This shows that Ciena is outperforming its peers so far this year.
Fabrinet (FN - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 52.8%.
For Fabrinet, the consensus EPS estimate for the current year has increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ciena belongs to the Communication - Components industry, which includes 13 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 98.8% so far this year, meaning that CIEN is performing better in terms of year-to-date returns.
On the other hand, Fabrinet belongs to the Electronics - Miscellaneous Components industry. This 27-stock industry is currently ranked #155. The industry has moved +4.9% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Ciena and Fabrinet as they attempt to continue their solid performance.