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Are Consumer Discretionary Stocks Lagging Bally's (BALY) This Year?
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For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bally's Corporation (BALY - Free Report) one of those stocks right now? 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.
Bally's Corporation is one of 280 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bally's Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BALY's full-year earnings has moved 31% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BALY has gained about 22.4% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 0.9% on average. As we can see, Bally's Corporation is performing better than its sector in the calendar year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Paramount Global (PARAA - Free Report) . The stock is up 16.1% year-to-date.
In Paramount Global's case, the consensus EPS estimate for the current year increased 52.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Bally's Corporation belongs to the Hotels and Motels industry, a group that includes 15 individual companies and currently sits at #147 in the Zacks Industry Rank. This group has gained an average of 3.5% so far this year, so BALY is performing better in this area.
In contrast, Paramount Global falls under the Media Conglomerates industry. Currently, this industry has 15 stocks and is ranked #22. Since the beginning of the year, the industry has moved -2.2%.
Bally's Corporation and Paramount Global 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 Bally's (BALY) This Year?
For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bally's Corporation (BALY - Free Report) one of those stocks right now? 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.
Bally's Corporation is one of 280 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bally's Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BALY's full-year earnings has moved 31% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BALY has gained about 22.4% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 0.9% on average. As we can see, Bally's Corporation is performing better than its sector in the calendar year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Paramount Global (PARAA - Free Report) . The stock is up 16.1% year-to-date.
In Paramount Global's case, the consensus EPS estimate for the current year increased 52.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Bally's Corporation belongs to the Hotels and Motels industry, a group that includes 15 individual companies and currently sits at #147 in the Zacks Industry Rank. This group has gained an average of 3.5% so far this year, so BALY is performing better in this area.
In contrast, Paramount Global falls under the Media Conglomerates industry. Currently, this industry has 15 stocks and is ranked #22. Since the beginning of the year, the industry has moved -2.2%.
Bally's Corporation and Paramount Global could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.