Will Financial Stocks Save Argo Blockchain (ARBK) This Year? – 30 May 2023

Investors interested in financial stocks should always look for the best companies in the group. Is Argo Blockchain PLC Sponsored ADR (ARBK – Free Report) one of these stocks right now? By taking a look at the stock’s year-to-date performance compared to the financials, we may be able to answer that question.

Argo Blockchain PLC Sponsored ADR is one of 872 companies in the financial group. The financial group is currently #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, and measures the average Zacks Rank of the individual stocks in the sector to measure the strength of each group.

Zacks Rank is a proven model that highlights a number of stocks with the right attributes to outperform the market over the next one to three months. The system emphasizes revisions to earnings estimates and favors companies with better earnings prospects. Argo Blockchain PLC Sponsored ADR currently has a Zacks Rank #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ARBK’s full-year earnings has moved 47.7% higher. This means that analyst sentiment is stronger and the share’s earnings outlook is improving.

Based on the latest available data, ARBK is up about 9.3% so far this year. Meanwhile, shares in the financials group have lost about 0.9% on average. This means that Argo Blockchain PLC Sponsored ADR is outperforming the sector as a whole this year.

Brown and Brown (BRIDGE – Free Report) is another financial stock that has outperformed the sector so far this year. Since the beginning of the year, the share has had a return of 10.4%.

In Brown & Brown’s case, the consensus EPS estimate for the current year increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down further, Argo Blockchain PLC Sponsored ADR belongs to the Financial – Miscellaneous Services industry, a group that includes 58 individual companies and currently sits at #202 on the Zacks Industry Rank. On average, this group has received an average of 0.3% so far this year, which means that ARBK is performing better so far this year.

However, Brown & Brown belongs to the insurance brokerage industry. Currently, this 10-stock industry is ranked #21. The industry has moved +2.9% so far this year.

Investors interested in financial stocks should continue to track Argo Blockchain PLC Sponsored ADR and Brown & Brown. These stocks will look to continue their solid performance.

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