For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bloom Energy (BE) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Bloom Energy is a member of the Oils-Energy sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BE's full-year earnings has moved 79.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BE has returned 306.5% so far this year. In comparison, Oils-Energy companies have returned an average of 5.9%. This means that Bloom Energy is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Sunrun (RUN). The stock is up 106.6% year-to-date.
The consensus estimate for Sunrun's current year EPS has increased 341.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Bloom Energy belongs to the Alternative Energy - Other industry, a group that includes 43 individual stocks and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have gained about 40.2% so far this year, so BE is performing better this group in terms of year-to-date returns.
In contrast, Sunrun falls under the Solar industry. Currently, this industry has 14 stocks and is ranked #36. Since the beginning of the year, the industry has moved +26.2%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Bloom Energy and Sunrun as they could maintain their solid performance.
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Bloom Energy Corporation (BE): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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