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Are Business Services Stocks Lagging Parsons (PSN) This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parsons (PSN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Parsons is a member of our Business Services group, which includes 316 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Parsons is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PSN's full-year earnings has moved 6.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PSN has returned 48% so far this year. In comparison, Business Services companies have returned an average of 6.1%. As we can see, Parsons is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Spotify (SPOT - Free Report) . The stock has returned 81.1% year-to-date.
The consensus estimate for Spotify's current year EPS has increased 28.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Parsons belongs to the Technology Services industry, which includes 171 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, stocks in this group have gained 16% this year, meaning that PSN is performing better in terms of year-to-date returns. Spotify is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Parsons and Spotify. These stocks will be looking to continue their solid performance.
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Are Business Services Stocks Lagging Parsons (PSN) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parsons (PSN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Parsons is a member of our Business Services group, which includes 316 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Parsons is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PSN's full-year earnings has moved 6.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PSN has returned 48% so far this year. In comparison, Business Services companies have returned an average of 6.1%. As we can see, Parsons is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Spotify (SPOT - Free Report) . The stock has returned 81.1% year-to-date.
The consensus estimate for Spotify's current year EPS has increased 28.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Parsons belongs to the Technology Services industry, which includes 171 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, stocks in this group have gained 16% this year, meaning that PSN is performing better in terms of year-to-date returns. Spotify is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Parsons and Spotify. These stocks will be looking to continue their solid performance.