Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Has Grupo Cibest (CIB) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.
Grupo Cibest is one of 27 companies in the Conglomerates group. The Conglomerates group currently sits at #2 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Grupo Cibest is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CIB's full-year earnings has moved 25.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CIB has gained about 58.1% so far this year. Meanwhile, the Conglomerates sector has returned an average of -14% on a year-to-date basis. As we can see, Grupo Cibest is performing better than its sector in the calendar year.
Another Conglomerates stock, which has outperformed the sector so far this year, is Griffon (GFF). The stock has returned 35.3% year-to-date.
In Griffon's case, the consensus EPS estimate for the current year increased 4.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Grupo Cibest belongs to the Diversified Operations industry, which includes 27 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have lost 14% this year, meaning that CIB is performing better in terms of year-to-date returns. Griffon is also part of the same industry.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to Grupo Cibest and Griffon as they could maintain their solid performance.
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Grupo Cibest S.A. - Sponsored ADR (CIB): Free Stock Analysis Report
Griffon Corporation (GFF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).