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Has Canon (CAJPY) Outpaced Other Computer and Technology Stocks This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Canon (CAJPY - 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Canon is a member of our Computer and Technology group, which includes 617 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Canon is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CAJPY's full-year earnings has moved 12.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CAJPY has returned about 34.6% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 21.1% on average. As we can see, Canon is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Marchex (MCHX - Free Report) . The stock is up 44.1% year-to-date.
For Marchex, the consensus EPS estimate for the current year has increased 23.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Canon belongs to the Office Automation and Equipment industry, which includes 5 individual stocks and currently sits at #24 in the Zacks Industry Rank. This group has gained an average of 62.1% so far this year, so CAJPY is slightly underperforming its industry in this area.
On the other hand, Marchex belongs to the Internet - Services industry. This 39-stock industry is currently ranked #90. The industry has moved +14.6% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Canon and Marchex as they could maintain their solid performance.
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Has Canon (CAJPY) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Canon (CAJPY - 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Canon is a member of our Computer and Technology group, which includes 617 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Canon is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CAJPY's full-year earnings has moved 12.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CAJPY has returned about 34.6% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 21.1% on average. As we can see, Canon is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Marchex (MCHX - Free Report) . The stock is up 44.1% year-to-date.
For Marchex, the consensus EPS estimate for the current year has increased 23.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Canon belongs to the Office Automation and Equipment industry, which includes 5 individual stocks and currently sits at #24 in the Zacks Industry Rank. This group has gained an average of 62.1% so far this year, so CAJPY is slightly underperforming its industry in this area.
On the other hand, Marchex belongs to the Internet - Services industry. This 39-stock industry is currently ranked #90. The industry has moved +14.6% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Canon and Marchex as they could maintain their solid performance.