For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Clear Channel Outdoor (CCO) 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? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Clear Channel Outdoor is a member of the Business Services sector. This group includes 260 individual stocks and currently holds a Zacks Sector Rank of #6. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Clear Channel Outdoor is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCO's full-year earnings has moved 1.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CCO has returned 35% so far this year. Meanwhile, stocks in the Business Services group have lost about 6.8% on average. This shows that Clear Channel Outdoor is outperforming its peers so far this year.
Soluna Holdings, Inc. (SLNH) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 65.7%.
In Soluna Holdings, Inc.'s case, the consensus EPS estimate for the current year increased 23.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Clear Channel Outdoor belongs to the Advertising and Marketing industry, a group that includes 18 individual stocks and currently sits at #174 in the Zacks Industry Rank. This group has lost an average of 17.1% so far this year, so CCO is performing better in this area.
Soluna Holdings, Inc., however, belongs to the Technology Services industry. Currently, this 125-stock industry is ranked #56. The industry has moved +32.9% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Clear Channel Outdoor and Soluna Holdings, Inc. as they could maintain their solid performance.
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Clear Channel Outdoor Holdings, Inc. (CCO): Free Stock Analysis Report Soluna Holdings, Inc. (SLNH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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