Investors focused on the Finance space have likely heard of Corrections Corp. of America (CXW - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Corrections Corp. of America is a member of the Finance sector. This group includes 829 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. CXW is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CXW's full-year earnings has moved 1.27% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CXW has gained about 4.09% so far this year. Meanwhile, the Finance sector has returned an average of -2.82% on a year-to-date basis. This means that Corrections Corp. of America is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CXW is a member of the REIT and Equity Trust - Other industry, which includes 117 individual companies and currently sits at #97 in the Zacks Industry Rank. On average, stocks in this group have gained 0.25% this year, meaning that CXW is performing better in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to CXW as it looks to continue its solid performance.