The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Grupo Financiero Banorte SAB de CV (GBOOY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Grupo Financiero Banorte SAB de CV is a member of our Finance group, which includes 858 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Grupo Financiero Banorte SAB de CV is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GBOOY's full-year earnings has moved 1.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GBOOY has moved about 18.8% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of 18.5% on a year-to-date basis. This shows that Grupo Financiero Banorte SAB de CV is outperforming its peers so far this year.
Banco Itau (ITUB) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.6%.
Over the past three months, Banco Itau's consensus EPS estimate for the current year has increased 5.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Grupo Financiero Banorte SAB de CV belongs to the Financial - Miscellaneous Services industry, a group that includes 103 individual companies and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 10% so far this year, so GBOOY is performing better in this area.
On the other hand, Banco Itau belongs to the Banks - Foreign industry. This 66-stock industry is currently ranked #39. The industry has moved +66.4% year to date.
Going forward, investors interested in Finance stocks should continue to pay close attention to Grupo Financiero Banorte SAB de CV and Banco Itau as they could maintain their solid performance.
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Grupo Financiero Banorte SAB de CV (GBOOY): Free Stock Analysis Report Itau Unibanco Holding S.A. (ITUB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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