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Are Computer and Technology Stocks Lagging Corning (GLW) 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. Corning (GLW - 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 Computer and Technology sector should help us answer this question.
Corning is a member of our Computer and Technology group, which includes 617 different companies and currently sits at #3 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 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. Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GLW's full-year earnings has moved 3.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, GLW has returned 40.8% so far this year. In comparison, Computer and Technology companies have returned an average of 9.7%. This means that Corning is performing better than its sector in terms of year-to-date returns.
Ametek (AME - 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 17.4%.
Over the past three months, Ametek's consensus EPS estimate for the current year has increased 3.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Corning belongs to the Communication - Components industry, a group that includes 13 individual stocks and currently sits at #46 in the Zacks Industry Rank. This group has gained an average of 60.5% so far this year, so GLW is slightly underperforming its industry in this area.
In contrast, Ametek falls under the Electronics - Testing Equipment industry. Currently, this industry has 4 stocks and is ranked #24. Since the beginning of the year, the industry has moved +21.1%.
Corning and Ametek could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Are Computer and Technology Stocks Lagging Corning (GLW) 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. Corning (GLW - 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 Computer and Technology sector should help us answer this question.
Corning is a member of our Computer and Technology group, which includes 617 different companies and currently sits at #3 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 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. Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GLW's full-year earnings has moved 3.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, GLW has returned 40.8% so far this year. In comparison, Computer and Technology companies have returned an average of 9.7%. This means that Corning is performing better than its sector in terms of year-to-date returns.
Ametek (AME - 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 17.4%.
Over the past three months, Ametek's consensus EPS estimate for the current year has increased 3.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Corning belongs to the Communication - Components industry, a group that includes 13 individual stocks and currently sits at #46 in the Zacks Industry Rank. This group has gained an average of 60.5% so far this year, so GLW is slightly underperforming its industry in this area.
In contrast, Ametek falls under the Electronics - Testing Equipment industry. Currently, this industry has 4 stocks and is ranked #24. Since the beginning of the year, the industry has moved +21.1%.
Corning and Ametek could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.