The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Prospect Capital (PSEC - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Prospect Capital is a member of the Finance sector. This group includes 854 individual stocks and currently holds a Zacks Sector Rank of #10. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PSEC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PSEC's full-year earnings has moved 11.77% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PSEC has returned about 3.80% since the start of the calendar year. At the same time, Finance stocks have gained an average of 2.06%. This shows that Prospect Capital is outperforming its peers so far this year.
Breaking things down more, PSEC is a member of the Financial - Investment Management industry, which includes 51 individual companies and currently sits at #241 in the Zacks Industry Rank. On average, this group has gained an average of 2.31% so far this year, meaning that PSEC is performing better in terms of year-to-date returns.
Investors in the Finance sector will want to keep a close eye on PSEC as it attempts to continue its solid performance.