Are Finance Stocks Lagging Prog Holdings (PRG) This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. PROG Holdings (PRG) 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 Finance sector should help us answer this question.
PROG Holdings is a member of our Finance group, which includes 853 different companies and currently sits at #15 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 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. PROG Holdings is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PRG's full-year earnings has moved 19.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PRG has returned 104% so far this year. In comparison, Finance companies have returned an average of 4.5%. As we can see, PROG Holdings is performing better than its sector in the calendar year.
Allianz SE (ALIZY) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 11.4%.
In Allianz SE's case, the consensus EPS estimate for the current year increased 3.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, PROG Holdings belongs to the Financial - Consumer Loans industry, a group that includes 16 individual stocks and currently sits at #110 in the Zacks Industry Rank. On average, this group has gained an average of 9.1% so far this year, meaning that PRG is performing better in terms of year-to-date returns.
Allianz SE, however, belongs to the Insurance - Multi line industry. Currently, this 35-stock industry is ranked #105. The industry has moved -8.6% so far this year.
Investors with an interest in Finance stocks should continue to track PROG Holdings and Allianz SE. These stocks will be looking to continue their solid performance.
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