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Are Consumer Discretionary Stocks Lagging DraftKings (DKNG) This Year?
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The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DraftKings (DKNG - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
DraftKings is one of 280 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #12 in 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 14.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DKNG has returned about 146.8% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of 10% on a year-to-date basis. This shows that DraftKings is outperforming its peers so far this year.
Another stock in the Consumer Discretionary sector, Trip.com (TCOM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 14.9%.
Over the past three months, Trip.com's consensus EPS estimate for the current year has increased 65.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, DraftKings belongs to the Gaming industry, a group that includes 40 individual companies and currently sits at #108 in the Zacks Industry Rank. This group has gained an average of 20.1% so far this year, so DKNG is performing better in this area.
In contrast, Trip.com falls under the Leisure and Recreation Services industry. Currently, this industry has 34 stocks and is ranked #174. Since the beginning of the year, the industry has moved +20.6%.
DraftKings and Trip.com could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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Are Consumer Discretionary Stocks Lagging DraftKings (DKNG) This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DraftKings (DKNG - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
DraftKings is one of 280 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #12 in 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 14.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DKNG has returned about 146.8% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of 10% on a year-to-date basis. This shows that DraftKings is outperforming its peers so far this year.
Another stock in the Consumer Discretionary sector, Trip.com (TCOM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 14.9%.
Over the past three months, Trip.com's consensus EPS estimate for the current year has increased 65.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, DraftKings belongs to the Gaming industry, a group that includes 40 individual companies and currently sits at #108 in the Zacks Industry Rank. This group has gained an average of 20.1% so far this year, so DKNG is performing better in this area.
In contrast, Trip.com falls under the Leisure and Recreation Services industry. Currently, this industry has 34 stocks and is ranked #174. Since the beginning of the year, the industry has moved +20.6%.
DraftKings and Trip.com could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.