Has Evercore (EVR) Outpaced Other Finance Stocks This Year?
Here is how Evercore (EVR) and Extra Space Storage (EXR) have performed compared to their sector so far this year.
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Evercore (EVR) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Evercore is a member of the Finance sector. This group includes 904 individual stocks and currently holds a Zacks Sector Rank of #2. 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. Evercore is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EVR's full-year earnings has moved 14.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that EVR has returned about 35.6% since the start of the calendar year. Meanwhile, stocks in the Finance group have gained about 24.3% on average. This means that Evercore is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Extra Space Storage (EXR). The stock is up 76.4% year-to-date.
Over the past three months, Extra Space Storage's consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Evercore is a member of the Financial - Investment Bank industry, which includes 18 individual companies and currently sits at #58 in the Zacks Industry Rank. Stocks in this group have gained about 40.5% so far this year, so EVR is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Extra Space Storage falls under the REIT and Equity Trust - Other industry. Currently, this industry has 113 stocks and is ranked #147. Since the beginning of the year, the industry has moved +26.7%.
Evercore and Extra Space Storage could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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