The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Bloom Energy (BE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Bloom Energy is a member of the Oils-Energy sector. This group includes 252 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
The Zacks Consensus Estimate for BE's full-year earnings has moved 43% 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, BE has returned 145.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 30.7% on a year-to-date basis. This means that Bloom Energy is outperforming the sector as a whole this year.
Alvopetro Energy Ltd. (ALVOF) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.6%.
For Alvopetro Energy Ltd., the consensus EPS estimate for the current year has increased 3.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Bloom Energy belongs to the Alternative Energy - Other industry, which includes 56 individual stocks and currently sits at #93 in the Zacks Industry Rank. Alvopetro Energy Ltd. is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Bloom Energy and Alvopetro Energy Ltd. as they could maintain 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).