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Are Oils-Energy Stocks Lagging Canadian Solar (CSIQ) This Year?

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Canadian Solar (CSIQ) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Canadian Solar is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #15 within 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 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. Canadian Solar is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for CSIQ's full-year earnings has moved 0.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that CSIQ has returned about 37% since the start of the calendar year. At the same time, Oils-Energy stocks have lost an average of 5.8%. This means that Canadian Solar is outperforming the sector as a whole this year.

Another stock in the Oils-Energy sector, Enterprise Products Partners (EPD), has outperformed the sector so far this year. The stock's year-to-date return is 7.9%.

In Enterprise Products Partners' case, the consensus EPS estimate for the current year increased 3.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Canadian Solar belongs to the Solar industry, a group that includes 16 individual stocks and currently sits at #26 in the Zacks Industry Rank. This group has lost an average of 10.5% so far this year, so CSIQ is performing better in this area.

On the other hand, Enterprise Products Partners belongs to the Oil and Gas - Production Pipeline - MLB industry. This 9-stock industry is currently ranked #119. The industry has moved +9.3% year to date.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Canadian Solar and Enterprise Products Partners as they could maintain their solid performance.

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Zacks Investment Research