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Are Finance Stocks Lagging The Goldman Sachs Group (GS) This Year?
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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Goldman Sachs (GS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Goldman Sachs is one of 881 companies in the Finance group. The Finance group currently sits at #4 within 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. Goldman Sachs is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GS' full-year earnings has moved 4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GS has moved about 16.2% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 5.3% on average. This means that Goldman Sachs is outperforming the sector as a whole this year.
Another stock in the Finance sector, Abacus Global Management, Inc. (ABX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.7%.
The consensus estimate for Abacus Global Management, Inc.'s current year EPS has increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Goldman Sachs belongs to the Financial - Investment Bank industry, a group that includes 22 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 7.6% so far this year, so GS is performing better this group in terms of year-to-date returns.
Abacus Global Management, Inc., however, belongs to the Financial - Miscellaneous Services industry. Currently, this 115-stock industry is ranked #100. The industry has moved -8.2% so far this year.
Goldman Sachs and Abacus Global Management, Inc. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Are Finance Stocks Lagging The Goldman Sachs Group (GS) This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Goldman Sachs (GS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Goldman Sachs is one of 881 companies in the Finance group. The Finance group currently sits at #4 within 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. Goldman Sachs is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GS' full-year earnings has moved 4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GS has moved about 16.2% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 5.3% on average. This means that Goldman Sachs is outperforming the sector as a whole this year.
Another stock in the Finance sector, Abacus Global Management, Inc. (ABX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.7%.
The consensus estimate for Abacus Global Management, Inc.'s current year EPS has increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Goldman Sachs belongs to the Financial - Investment Bank industry, a group that includes 22 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 7.6% so far this year, so GS is performing better this group in terms of year-to-date returns.
Abacus Global Management, Inc., however, belongs to the Financial - Miscellaneous Services industry. Currently, this 115-stock industry is ranked #100. The industry has moved -8.2% so far this year.
Goldman Sachs and Abacus Global Management, Inc. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.