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? One simple way to answer this question is to take a look at the year-to-date performance of CXW and the rest of the Finance group's stocks.
Corrections Corp. of America is one of 826 individual stocks in the Finance sector. Collectively, these companies sit at #10 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CXW is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CXW's full-year earnings has moved 1.95% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CXW has moved about 6.58% on a year-to-date basis. At the same time, Finance stocks have lost an average of 2.47%. 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 #90 in the Zacks Industry Rank. On average, stocks in this group have gained 2.70% this year, meaning that CXW is performing better in terms of year-to-date returns.
Investors in the Finance sector will want to keep a close eye on CXW as it attempts to continue its solid performance.