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Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Commonwealth Bank of Australia Sponsored ADR (CMWAY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Commonwealth Bank of Australia Sponsored ADR is a member of our Finance group, which includes 854 different companies and currently sits at #14 in the Zacks Sector Rank. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Commonwealth Bank of Australia Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CMWAY's full-year earnings has moved 1.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CMWAY has returned 12.1% so far this year. Meanwhile, the Finance sector has returned an average of 3.8% on a year-to-date basis. This means that Commonwealth Bank of Australia Sponsored ADR is performing better than its sector in terms of year-to-date returns.
Another Finance stock, which has outperformed the sector so far this year, is Palomar (PLMR). The stock has returned 46.5% year-to-date.
The consensus estimate for Palomar's current year EPS has increased 10% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Commonwealth Bank of Australia Sponsored ADR belongs to the Banks - Foreign industry, a group that includes 66 individual stocks and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have gained about 4.8% so far this year, so CMWAY is performing better this group in terms of year-to-date returns.
Palomar, however, belongs to the Insurance - Property and Casualty industry. Currently, this 40-stock industry is ranked #28. The industry has moved +14.6% so far this year.
Investors with an interest in Finance stocks should continue to track Commonwealth Bank of Australia Sponsored ADR and Palomar. These stocks will be looking to continue their solid performance.
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