The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Ballard Power Systems (BLDP) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
Ballard Power Systems is one of 111 individual stocks in the Utilities sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 25.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BLDP has moved about 14.2% on a year-to-date basis. At the same time, Utilities stocks have gained an average of 8.3%. This means that Ballard Power Systems is outperforming the sector as a whole this year.
Another Utilities stock, which has outperformed the sector so far this year, is Exelon (EXC). The stock has returned 9% year-to-date.
For Exelon, the consensus EPS estimate for the current year has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 63 individual stocks and currently sits at #163 in the Zacks Industry Rank. On average, this group has gained an average of 10.1% so far this year, meaning that BLDP is performing better in terms of year-to-date returns. Exelon is also part of the same industry.
Investors with an interest in Utilities stocks should continue to track Ballard Power Systems and Exelon. These stocks will be looking to continue their solid performance.
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Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).