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Is Canon (CAJ) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Canon (CAJ) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Canon is one of 665 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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 #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CAJ's full-year earnings has moved 0.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, CAJ has gained about 0.5% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 5.1% on average. This means that Canon is performing better than its sector in terms of year-to-date returns.

One other Computer and Technology stock that has outperformed the sector so far this year is AU Optronics (AUOTY). The stock is up 1.2% year-to-date.

Over the past three months, AU Optronics' consensus EPS estimate for the current year has increased 6.6%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Canon is a member of the Office Automation and Equipment industry, which includes 5 individual companies and currently sits at #28 in the Zacks Industry Rank.


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Canon, Inc. (CAJ) : Free Stock Analysis Report
 
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Zacks Investment Research