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Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Is Canadian Solar (CSIQ) Outperforming 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. Canadian Solar (CSIQ) 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? 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 308 different companies and currently sits at #14 in the Zacks Sector Rank. 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. CSIQ is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CSIQ's full-year earnings has moved 21.47% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, CSIQ has gained about 24.90% so far this year. In comparison, Oils-Energy companies have returned an average of 1.56%. As we can see, Canadian Solar is performing better than its sector in the calendar year.

Breaking things down more, CSIQ is a member of the Solar industry, which includes 13 individual companies and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 63.75% so far this year, so CSIQ is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CSIQ as it looks to continue its solid performance.


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