For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has NIQ Global Intelligence plc (NIQ) 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.
NIQ Global Intelligence plc is one of 245 companies in the Business Services group. The Business Services group currently sits at #6 within 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 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. NIQ Global Intelligence plc is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NIQ's full-year earnings has moved 11.3% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NIQ has returned 14.9% so far this year. In comparison, Business Services companies have returned an average of -10.1%. This means that NIQ Global Intelligence plc is performing better than its sector in terms of year-to-date returns.
Another stock in the Business Services sector, ScanSource (SCSC), has outperformed the sector so far this year. The stock's year-to-date return is 54.7%.
For ScanSource, the consensus EPS estimate for the current year has increased 14.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, NIQ Global Intelligence plc belongs to the Advertising and Marketing industry, which includes 11 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 24.8% so far this year, meaning that NIQ is slightly underperforming its industry in terms of year-to-date returns.
In contrast, ScanSource falls under the Technology Services industry. Currently, this industry has 123 stocks and is ranked #90. Since the beginning of the year, the industry has moved -18.3%.
Investors with an interest in Business Services stocks should continue to track NIQ Global Intelligence plc and ScanSource. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).