Is Renesola (SOL) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Renesola (SOL) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Renesola is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #15 in 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 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. SOL is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SOL's full-year earnings has moved 287.50% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SOL has returned 96.76% so far this year. In comparison, Oils-Energy companies have returned an average of 10.62%. This shows that Renesola is outperforming its peers so far this year.
Looking more specifically, SOL belongs to the Solar industry, which includes 13 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have gained 6.08% this year, meaning that SOL is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on SOL as it attempts to continue its solid performance.
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