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Is DraftKings (DKNG) Stock Outpacing Its Consumer Discretionary Peers 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
DraftKings is a member of our Consumer Discretionary group, which includes 281 different companies and currently sits at #11 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).
Over the past 90 days, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 0.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DKNG has gained about 216.4% so far this year. In comparison, Consumer Discretionary companies have returned an average of 6.3%. 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 Electronic Arts (EA - Free Report) . The stock has returned 7% year-to-date.
In Electronic Arts' case, the consensus EPS estimate for the current year increased 2.9% 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 39 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 21.1% so far this year, meaning that DKNG is performing better in terms of year-to-date returns.
On the other hand, Electronic Arts belongs to the Toys - Games - Hobbies industry. This 6-stock industry is currently ranked #92. The industry has moved +10.7% year to date.
Investors interested in the Consumer Discretionary sector may want to keep a close eye on DraftKings and Electronic Arts as they attempt to continue their solid performance.
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Is DraftKings (DKNG) Stock Outpacing Its Consumer Discretionary Peers 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
DraftKings is a member of our Consumer Discretionary group, which includes 281 different companies and currently sits at #11 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).
Over the past 90 days, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 0.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DKNG has gained about 216.4% so far this year. In comparison, Consumer Discretionary companies have returned an average of 6.3%. 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 Electronic Arts (EA - Free Report) . The stock has returned 7% year-to-date.
In Electronic Arts' case, the consensus EPS estimate for the current year increased 2.9% 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 39 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 21.1% so far this year, meaning that DKNG is performing better in terms of year-to-date returns.
On the other hand, Electronic Arts belongs to the Toys - Games - Hobbies industry. This 6-stock industry is currently ranked #92. The industry has moved +10.7% year to date.
Investors interested in the Consumer Discretionary sector may want to keep a close eye on DraftKings and Electronic Arts as they attempt to continue their solid performance.