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Has Canadian Solar (CSIQ) Outpaced Other Oils-Energy Stocks This Year?

Zacks Equity Research

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Canadian Solar (CSIQ) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.

Canadian Solar is a member of our Oils-Energy group, which includes 311 different companies and currently sits at #10 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. CSIQ is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CSIQ's full-year earnings has moved 0.69% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, CSIQ has returned 53.35% so far this year. In comparison, Oils-Energy companies have returned an average of 10.08%. This means that Canadian Solar is performing better than its sector in terms of year-to-date returns.

To break things down more, CSIQ belongs to the Solar industry, a group that includes 12 individual companies and currently sits at #52 in the Zacks Industry Rank. On average, stocks in this group have gained 73.60% this year, meaning that CSIQ is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Oils-Energy stocks should continue to track CSIQ. The stock will be looking to continue its solid performance.


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