The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cameco (CCJ) 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 Oils-Energy peers, we might be able to answer that question.
Cameco is a member of our Oils-Energy group, which includes 236 different companies and currently sits at #15 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Cameco is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CCJ's full-year earnings has moved 8.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CCJ has moved about 34.9% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 19.5%. This means that Cameco is outperforming the sector as a whole this year.
Forum Energy Technologies (FET) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.4%.
In Forum Energy Technologies' case, the consensus EPS estimate for the current year increased 3.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Cameco belongs to the Alternative Energy - Other industry, a group that includes 47 individual companies and currently sits at #97 in the Zacks Industry Rank. Stocks in this group have gained about 44.8% so far this year, so CCJ is slightly underperforming its industry this group in terms of year-to-date returns.
On the other hand, Forum Energy Technologies belongs to the Oil and Gas - Mechanical and and Equipment industry. This 12-stock industry is currently ranked #157. The industry has moved +28.6% year to date.
Cameco and Forum Energy Technologies could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Cameco Corporation (CCJ): Free Stock Analysis Report Forum Energy Technologies, Inc. (FET): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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