Investors focused on the Oils-Energy space have likely heard of Canadian Solar (CSIQ - 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 CSIQ and the rest of the Oils-Energy group's stocks.
Canadian Solar is a member of the Oils-Energy sector. This group includes 327 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CSIQ is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CSIQ's full-year earnings has moved 41.82% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CSIQ has returned about 2.67% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have lost about 2.56% on average. This means that Canadian Solar is outperforming the sector as a whole this year.
Looking more specifically, CSIQ belongs to the Solar industry, which includes 13 individual stocks and currently sits at #43 in the Zacks Industry Rank. This group has lost an average of 9.95% so far this year, so CSIQ is performing better in this area.
Investors with an interest in Oils-Energy stocks should continue to track CSIQ. The stock will be looking to continue its solid performance.