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Are Oils-Energy Stocks Lagging Bloom Energy (BE) 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 Bloom Energy (BE - Free Report) 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.
Bloom Energy is a member of our Oils-Energy group, which includes 240 different companies and currently sits at #1 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BE's full-year earnings has moved 109.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BE has returned about 173.4% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 28.8% on average. This shows that Bloom Energy is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Patterson-UTI (PTEN - Free Report) . The stock is up 82.3% year-to-date.
The consensus estimate for Patterson-UTI's current year EPS has increased 19.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bloom Energy belongs to the Alternative Energy - Other industry, which includes 51 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 26.1% so far this year, meaning that BE is performing better in terms of year-to-date returns.
Patterson-UTI, however, belongs to the Oil and Gas - Drilling industry. Currently, this 8-stock industry is ranked #159. The industry has moved +56.8% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Bloom Energy and Patterson-UTI as they could maintain their solid performance.
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Are Oils-Energy Stocks Lagging Bloom Energy (BE) 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 Bloom Energy (BE - Free Report) 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.
Bloom Energy is a member of our Oils-Energy group, which includes 240 different companies and currently sits at #1 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BE's full-year earnings has moved 109.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BE has returned about 173.4% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 28.8% on average. This shows that Bloom Energy is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Patterson-UTI (PTEN - Free Report) . The stock is up 82.3% year-to-date.
The consensus estimate for Patterson-UTI's current year EPS has increased 19.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bloom Energy belongs to the Alternative Energy - Other industry, which includes 51 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 26.1% so far this year, meaning that BE is performing better in terms of year-to-date returns.
Patterson-UTI, however, belongs to the Oil and Gas - Drilling industry. Currently, this 8-stock industry is ranked #159. The industry has moved +56.8% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Bloom Energy and Patterson-UTI as they could maintain their solid performance.