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Are Business Services Stocks Lagging ARQIT QUANTUM (ARQQ) This Year?
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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Arqit Quantum Inc. (ARQQ - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Arqit Quantum Inc. is one of 305 companies in the Business Services group. The Business Services group currently sits at #5 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 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. Arqit Quantum Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARQQ's full-year earnings has moved 30.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ARQQ has returned about 178.5% since the start of the calendar year. In comparison, Business Services companies have returned an average of 24.2%. As we can see, Arqit Quantum Inc. is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Parsons (PSN - Free Report) . The stock has returned 53.6% year-to-date.
In Parsons' case, the consensus EPS estimate for the current year increased 4.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Arqit Quantum Inc. belongs to the Technology Services industry, a group that includes 162 individual stocks and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 58.1% so far this year, meaning that ARQQ is performing better in terms of year-to-date returns. Parsons is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Arqit Quantum Inc. and Parsons as they could maintain their solid performance.
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Are Business Services Stocks Lagging ARQIT QUANTUM (ARQQ) This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Arqit Quantum Inc. (ARQQ - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Arqit Quantum Inc. is one of 305 companies in the Business Services group. The Business Services group currently sits at #5 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 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. Arqit Quantum Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARQQ's full-year earnings has moved 30.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ARQQ has returned about 178.5% since the start of the calendar year. In comparison, Business Services companies have returned an average of 24.2%. As we can see, Arqit Quantum Inc. is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Parsons (PSN - Free Report) . The stock has returned 53.6% year-to-date.
In Parsons' case, the consensus EPS estimate for the current year increased 4.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Arqit Quantum Inc. belongs to the Technology Services industry, a group that includes 162 individual stocks and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 58.1% so far this year, meaning that ARQQ is performing better in terms of year-to-date returns. Parsons is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Arqit Quantum Inc. and Parsons as they could maintain their solid performance.