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? Let's take a closer look at the stock's year-to-date performance to find out.
Healthcare Services is a member of the Business Services sector. This group includes 233 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HCSG's full-year earnings has moved 4.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HCSG has gained about 8.9% so far this year. In comparison, Business Services companies have returned an average of -10.9%. This shows that Healthcare Services is outperforming its peers so far this year.
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 56.4%.
For Remitly Global, Inc., the consensus EPS estimate for the current year has increased 30.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Healthcare Services is a member of the Business - Services industry, which includes 20 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have lost 16.1% 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 35 stocks and is ranked #52. Since the beginning of the year, the industry has moved -15.3%.
Healthcare Services and Remitly Global, Inc. could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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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).