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Is Renesola (SOL) Outperforming Other Oils-Energy Stocks This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Renesola (SOL - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Renesola is a member of the Oils-Energy sector. This group includes 306 individual stocks and currently holds a Zacks Sector Rank of #13. 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. SOL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SOL's full-year earnings has moved 150% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SOL has moved about 27.73% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 2.96%. This shows that Renesola is outperforming its peers so far this year.
Breaking things down more, SOL is a member of the Solar industry, which includes 13 individual companies and currently sits at #37 in the Zacks Industry Rank. This group has gained an average of 47.97% so far this year, so SOL is slightly underperforming its industry in this area.
SOL will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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Is Renesola (SOL) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Renesola (SOL - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Renesola is a member of the Oils-Energy sector. This group includes 306 individual stocks and currently holds a Zacks Sector Rank of #13. 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. SOL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SOL's full-year earnings has moved 150% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SOL has moved about 27.73% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 2.96%. This shows that Renesola is outperforming its peers so far this year.
Breaking things down more, SOL is a member of the Solar industry, which includes 13 individual companies and currently sits at #37 in the Zacks Industry Rank. This group has gained an average of 47.97% so far this year, so SOL is slightly underperforming its industry in this area.
SOL will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.