The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has NewtekOne (NEWT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
NewtekOne is one of 833 companies in the Finance group. The Finance group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. NewtekOne is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NEWT's full-year earnings has moved 1.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that NEWT has returned about 18.8% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of 0.8% on a year-to-date basis. As we can see, NewtekOne is performing better than its sector in the calendar year.
Another stock in the Finance sector, Federal Agricultural Mortgage (AGM), has outperformed the sector so far this year. The stock's year-to-date return is 1.9%.
The consensus estimate for Federal Agricultural Mortgage's current year EPS has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, NewtekOne belongs to the Financial - Miscellaneous Services industry, a group that includes 107 individual stocks and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have lost 5% this year, meaning that NEWT is performing better in terms of year-to-date returns.
Federal Agricultural Mortgage, however, belongs to the Financial - Mortgage & Related Services industry. Currently, this 11-stock industry is ranked #99. The industry has moved -25.2% so far this year.
NewtekOne and Federal Agricultural Mortgage could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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NewtekOne, Inc. (NEWT): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).