Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has ASX Limited - Unsponsored ADR (ASXFY) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
ASX Limited - Unsponsored ADR is a member of our Finance group, which includes 873 different companies and currently sits at #5 in 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. ASX Limited - Unsponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ASXFY's full-year earnings has moved 4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ASXFY has returned about 16.5% since the start of the calendar year. Meanwhile, stocks in the Finance group have gained about 7.9% on average. As we can see, ASX Limited - Unsponsored ADR is performing better than its sector in the calendar year.
One other Finance stock that has outperformed the sector so far this year is Pagaya Technologies Ltd. (PGY). The stock is up 11.3% year-to-date.
The consensus estimate for Pagaya Technologies Ltd.'s current year EPS has increased 16.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, ASX Limited - Unsponsored ADR belongs to the Securities and Exchanges industry, a group that includes 10 individual stocks and currently sits at #103 in the Zacks Industry Rank. On average, stocks in this group have lost 5.3% this year, meaning that ASXFY is performing better in terms of year-to-date returns.
In contrast, Pagaya Technologies Ltd. falls under the Financial - Miscellaneous Services industry. Currently, this industry has 115 stocks and is ranked #154. Since the beginning of the year, the industry has moved -4.7%.
ASX Limited - Unsponsored ADR and Pagaya Technologies Ltd. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).