The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Abacus Global Management, Inc. (ABX) one of those stocks right now? 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.
Abacus Global Management, Inc. is one of 873 companies in the Finance group. The Finance group currently sits at #4 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 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. Abacus Global Management, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABX's full-year earnings has moved 2.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ABX has returned 14.4% so far this year. Meanwhile, the Finance sector has returned an average of 8.1% on a year-to-date basis. This means that Abacus Global Management, Inc. is outperforming the sector as a whole this year.
Another Finance stock, which has outperformed the sector so far this year, is Innovative Industrial Properties (IIPR). The stock has returned 20.4% year-to-date.
In Innovative Industrial Properties' case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Abacus Global Management, Inc. belongs to the Financial - Miscellaneous Services industry, which includes 115 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, this group has lost an average of 5.6% so far this year, meaning that ABX is performing better in terms of year-to-date returns.
In contrast, Innovative Industrial Properties falls under the REIT and Equity Trust - Other industry. Currently, this industry has 90 stocks and is ranked #88. Since the beginning of the year, the industry has moved +13.5%.
Investors interested in the Finance sector may want to keep a close eye on Abacus Global Management, Inc. and Innovative Industrial Properties as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).