Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Healthcare Services (HCSG) 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 Business Services sector should help us answer this question.
Healthcare Services is a member of the Business Services sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. Healthcare Services is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HCSG's full-year earnings has moved 4.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, HCSG has moved about 10.4% on a year-to-date basis. In comparison, Business Services companies have returned an average of -9.4%. This means that Healthcare Services is performing better than its sector in terms of year-to-date returns.
Remitly Global, Inc. (RELY) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 72.3%.
The consensus estimate for Remitly Global, Inc.'s current year EPS has increased 51% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Healthcare Services is a member of the Business - Services industry, which includes 20 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, this group has lost an average of 13% so far this year, meaning that HCSG is performing better in terms of year-to-date returns.
In contrast, Remitly Global, Inc. falls under the Financial Transaction Services industry. Currently, this industry has 36 stocks and is ranked #92. Since the beginning of the year, the industry has moved -14.4%.
Investors with an interest in Business Services stocks should continue to track Healthcare Services and Remitly Global, Inc.. These stocks will be looking to continue their solid performance.
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Healthcare Services Group, Inc. (HCSG): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).