Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Tencent Holding (TCEHY) 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? One simple way to answer this question is to take a look at the year-to-date performance of TCEHY and the rest of the Computer and Technology group's stocks.
Tencent Holding is a member of our Computer and Technology group, which includes 638 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. TCEHY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TCEHY's full-year earnings has moved 3.61% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, TCEHY has moved about 8.18% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 16.07% on a year-to-date basis. This shows that Tencent Holding is outperforming its peers so far this year.
To break things down more, TCEHY belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #145 in the Zacks Industry Rank. Stocks in this group have gained about 15.36% so far this year, so TCEHY is slightly underperforming its industry this group in terms of year-to-date returns.
TCEHY 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.
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