Investors focused on the Consumer Discretionary space have likely heard of Penn National Gaming (PENN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Penn National Gaming is one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. PENN is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PENN's full-year earnings has moved 49.53% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that PENN has returned about 156.42% since the start of the calendar year. At the same time, Consumer Discretionary stocks have lost an average of 1.98%. This shows that Penn National Gaming is outperforming its peers so far this year.
To break things down more, PENN belongs to the Gaming industry, a group that includes 24 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have lost 14.57% this year, meaning that PENN is performing better in terms of year-to-date returns.
Investors in the Consumer Discretionary sector will want to keep a close eye on PENN as it attempts to continue its solid performance.