Investors focused on the Computer and Technology space have likely heard of Cisco Systems (CSCO), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CSCO and the rest of the Computer and Technology group’s stocks.
Cisco Systems is a member of our Computer and Technology group, which includes 646 different companies and currently sits at #8 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 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. CSCO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CSCO’s full-year earnings has moved 1.96% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, CSCO has gained about 25.68% so far this year. At the same time, Computer and Technology stocks have gained an average of 25.16%. This means that Cisco Systems is performing better than its sector in terms of year-to-date returns.
To break things down more, CSCO belongs to the Computer – Networking industry, a group that includes 9 individual companies and currently sits at #83 in the Zacks Industry Rank. Stocks in this group have gained about 26.67% so far this year, so CSCO is slightly underperforming its industry this group in terms of year-to-date returns.
CSCO will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.