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Is Royal Bank Of Canada (RY) Stock Outpacing Its Finance Peers This Year?

Investors focused on the Finance space have likely heard of Royal Bank Of Canada (RY), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of RY and the rest of the Finance group's stocks.

Royal Bank Of Canada is a member of the Finance sector. This group includes 895 individual stocks and currently holds a Zacks Sector Rank of #4. 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. RY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for RY's full-year earnings has moved 4.35% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, RY has gained about 3.69% so far this year. In comparison, Finance companies have returned an average of -3.45%. This means that Royal Bank Of Canada is performing better than its sector in terms of year-to-date returns.

Looking more specifically, RY belongs to the Banks - Foreign industry, which includes 67 individual stocks and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have lost about 13.02% so far this year, so RY is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Finance stocks should continue to pay close attention to RY as it looks to continue its solid performance.


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