Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Ballard Power Systems (BLDP) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
Ballard Power Systems is a member of the Utilities sector. This group includes 109 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 10.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BLDP has moved about 68.7% on a year-to-date basis. In comparison, Utilities companies have returned an average of 19.9%. This means that Ballard Power Systems is performing better than its sector in terms of year-to-date returns.
Another stock in the Utilities sector, Entergy (ETR), has outperformed the sector so far this year. The stock's year-to-date return is 24.6%.
In Entergy's case, the consensus EPS estimate for the current year increased 0.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 59 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have gained 23.7% this year, meaning that BLDP is performing better in terms of year-to-date returns. Entergy is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to Ballard Power Systems and Entergy as they could maintain their solid performance.
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Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report Entergy Corporation (ETR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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