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Is Bloom Energy (BE) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks Equity Research
·2-min read

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Bloom Energy (BE) been one of those stocks this year? 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.

Bloom Energy is a member of our Oils-Energy group, which includes 270 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. BE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BE's full-year earnings has moved 25% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that BE has returned about 73.63% since the start of the calendar year. At the same time, Oils-Energy stocks have lost an average of 33.02%. As we can see, Bloom Energy is performing better than its sector in the calendar year.

Looking more specifically, BE belongs to the Alternative Energy - Other industry, which includes 16 individual stocks and currently sits at #185 in the Zacks Industry Rank. Stocks in this group have lost about 12.64% so far this year, so BE is performing better this group in terms of year-to-date returns.

BE will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.


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Zacks Investment Research