Yahoo Finance Is Nuvei (NVEI) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Nuvei Corporation (NVEI) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Nuvei Corporation is one of 315 companies in the Business Services group. The Business Services group currently sits at #3 within 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. Nuvei Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVEI's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NVEI has moved about 22.7% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 7.2%. This shows that Nuvei Corporation is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is Omnicom (OMC). The stock is up 11.2% year-to-date.
For Omnicom, the consensus EPS estimate for the current year has increased 2.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nuvei Corporation belongs to the Financial Transaction Services industry, which includes 39 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 5.8% so far this year, so NVEI is performing better this group in terms of year-to-date returns.
Omnicom, however, belongs to the Advertising and Marketing industry. Currently, this 18-stock industry is ranked #94. The industry has moved +4.2% so far this year.
Investors with an interest in Business Services stocks should continue to track Nuvei Corporation and Omnicom. These stocks will be looking to continue their solid performance.
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Nuvei Corporation (NVEI) : Free Stock Analysis Report
Omnicom Group Inc. (OMC) : Free Stock Analysis Report
