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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? Let's take a closer look at the stock's year-to-date performance to find out.
DraftKings is a member of the Consumer Discretionary sector. This group includes 282 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 12.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DKNG has moved about 172.9% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 14.8%. This means that DraftKings is outperforming the sector as a whole this year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Netflix (NFLX - Free Report) . The stock has returned 45% year-to-date.
The consensus estimate for Netflix's current year EPS has increased 6.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DraftKings belongs to the Gaming industry, a group that includes 40 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 33.9% so far this year, meaning that DKNG is performing better in terms of year-to-date returns.
In contrast, Netflix falls under the Broadcast Radio and Television industry. Currently, this industry has 23 stocks and is ranked #170. Since the beginning of the year, the industry has moved +31.1%.
Investors with an interest in Consumer Discretionary stocks should continue to track DraftKings and Netflix. These stocks will be looking to continue their solid performance.
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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? Let's take a closer look at the stock's year-to-date performance to find out.
DraftKings is a member of the Consumer Discretionary sector. This group includes 282 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 12.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DKNG has moved about 172.9% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 14.8%. This means that DraftKings is outperforming the sector as a whole this year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Netflix (NFLX - Free Report) . The stock has returned 45% year-to-date.
The consensus estimate for Netflix's current year EPS has increased 6.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DraftKings belongs to the Gaming industry, a group that includes 40 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 33.9% so far this year, meaning that DKNG is performing better in terms of year-to-date returns.
In contrast, Netflix falls under the Broadcast Radio and Television industry. Currently, this industry has 23 stocks and is ranked #170. Since the beginning of the year, the industry has moved +31.1%.
Investors with an interest in Consumer Discretionary stocks should continue to track DraftKings and Netflix. These stocks will be looking to continue their solid performance.