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Are Computer and Technology Stocks Lagging Canon (CAJPY) This Year?

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

Canon is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #5 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 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. Canon is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CAJPY's full-year earnings has moved 12.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.


Our latest available data shows that CAJPY has returned about 12.9% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 11.4%. This shows that Canon is outperforming its peers so far this year.

One other Computer and Technology stock that has outperformed the sector so far this year is IBM (IBM). The stock is up 13.8% year-to-date.

For IBM, the consensus EPS estimate for the current year has increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Canon belongs to the Office Automation and Equipment industry, a group that includes 5 individual companies and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have lost about 6.4% so far this year, so CAJPY is performing better this group in terms of year-to-date returns.

On the other hand, IBM belongs to the Computer - Integrated Systems industry. This 9-stock industry is currently ranked #74. The industry has moved +9.6% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Canon and IBM. These stocks will be looking to continue their solid performance.

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Zacks Investment Research