Investors focused on the Finance space have likely heard of Macro Bank (BMA), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Macro Bank is one of 854 individual stocks in the Finance sector. Collectively, these companies sit at #8 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. BMA is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BMA's full-year earnings has moved 14.19% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BMA has moved about 50.29% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 11.61% on average. This means that Macro Bank is outperforming the sector as a whole this year.
To break things down more, BMA belongs to the Banks - Foreign industry, a group that includes 64 individual companies and currently sits at #213 in the Zacks Industry Rank. This group has gained an average of 8.06% so far this year, so BMA is performing better in this area.
Investors in the Finance sector will want to keep a close eye on BMA as it attempts to continue its solid performance.
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