Investors focused on the Computer and Technology space have likely heard of Ericsson (ERIC - 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 Computer and Technology peers, we might be able to answer that question.
Ericsson is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #10 in the Zacks Sector Rank. 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 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. ERIC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ERIC's full-year earnings has moved 20.47% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ERIC has gained about 9.36% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.11%. As we can see, Ericsson is performing better than its sector in the calendar year.
Breaking things down more, ERIC is a member of the Wireless Equipment industry, which includes 14 individual companies and currently sits at #12 in the Zacks Industry Rank. On average, stocks in this group have gained 16.37% this year, meaning that ERIC is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ERIC. The stock will be looking to continue its solid performance.