The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bloom Energy (BE) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Bloom Energy is a member of our Oils-Energy group, which includes 238 different companies and currently sits at #2 in 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BE's full-year earnings has moved 33.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BE has gained about 248% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 28.4% on average. This means that Bloom Energy is performing better than its sector in terms of year-to-date returns.
Terrestrial Energy Inc. (IMSR) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.4%.
For Terrestrial Energy Inc., the consensus EPS estimate for the current year has increased 6.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Bloom Energy belongs to the Alternative Energy - Other industry, a group that includes 50 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, stocks in this group have gained 23.8% this year, meaning that BE is performing better in terms of year-to-date returns. Terrestrial Energy Inc. is also part of the same industry.
Investors interested in the Oils-Energy sector may want to keep a close eye on Bloom Energy and Terrestrial Energy Inc. as they attempt to continue their solid performance.
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Bloom Energy Corporation (BE): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).