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Is Canadian Solar (CSIQ) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Canadian Solar (CSIQ) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Canadian Solar is a member of the Oils-Energy sector. This group includes 309 individual stocks and currently holds a Zacks Sector Rank of #12. 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. CSIQ is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CSIQ's full-year earnings has moved 21.47% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, CSIQ has moved about 53.90% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 4.09% on average. This means that Canadian Solar is performing better than its sector in terms of year-to-date returns.

Looking more specifically, CSIQ belongs to the Solar industry, a group that includes 12 individual stocks and currently sits at #15 in the Zacks Industry Rank. Stocks in this group have gained about 92.27% so far this year, so CSIQ is slightly underperforming its industry this group in terms of year-to-date returns.

Investors with an interest in Oils-Energy stocks should continue to track CSIQ. The stock will be looking to continue its solid performance.


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