The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Tencent Holding (TCEHY - Free Report) one of those stocks right now? 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.
Tencent Holding is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. TCEHY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TCEHY's full-year earnings has moved 3.08% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, TCEHY has returned 5.93% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.64%. As we can see, Tencent Holding is performing better than its sector in the calendar year.
Breaking things down more, TCEHY is a member of the Internet - Services industry, which includes 50 individual companies and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 6.54% so far this year, so TCEHY is slightly underperforming its industry in this area.
TCEHY will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.