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Is Bank of Nova Scotia (BNS) Stock Outpacing Its Finance Peers This Year?

Here is how Bank of Nova Scotia (BNS) and Ashford (AINC) have performed compared to their sector so far this year.

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This story originally appeared on Zacks

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bank of Nova Scotia (BNS) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

- Zacks

Bank of Nova Scotia is a member of our Finance group, which includes 902 different companies and currently sits at #1 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. Bank of Nova Scotia is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BNS' full-year earnings has moved 7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, BNS has returned 25.4% so far this year. At the same time, Finance stocks have gained an average of 20.3%. As we can see, Bank of Nova Scotia is performing better than its sector in the calendar year.

Ashford (AINC) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 82.5%.

For Ashford, the consensus EPS estimate for the current year has increased 29.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Bank of Nova Scotia belongs to the Banks - Foreign industry, which includes 66 individual stocks and currently sits at #115 in the Zacks Industry Rank. Stocks in this group have gained about 10.8% so far this year, so BNS is performing better this group in terms of year-to-date returns.

Ashford, however, belongs to the Financial - Investment Management industry. Currently, this 44-stock industry is ranked #66. The industry has moved +16.5% so far this year.

Investors with an interest in Finance stocks should continue to track Bank of Nova Scotia and Ashford. These stocks will be looking to continue their solid performance.



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Bank of Nova Scotia The (BNS): Free Stock Analysis Report

 

Ashford Inc. (AINC): Free Stock Analysis Report

 

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