Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Bloom Energy (BE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BE's full-year earnings has moved 124.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BE has moved about 370% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 3.1%. This means that Bloom Energy is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Solaris Energy Infrastructure, Inc. (SEI). The stock has returned 70.3% year-to-date.
In Solaris Energy Infrastructure, Inc.'s case, the consensus EPS estimate for the current year increased 57.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Bloom Energy is a member of the Alternative Energy - Other industry, which includes 43 individual companies and currently sits at #156 in the Zacks Industry Rank. On average, this group has gained an average of 38.7% so far this year, meaning that BE is performing better in terms of year-to-date returns.
Solaris Energy Infrastructure, Inc., however, belongs to the Oil and Gas - Mechanical and and Equipment industry. Currently, this 13-stock industry is ranked #171. The industry has moved +2.2% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Bloom Energy and Solaris Energy Infrastructure, Inc. as they could maintain their solid performance.
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Bloom Energy Corporation (BE): Free Stock Analysis Report Solaris Energy Infrastructure, Inc. (SEI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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