Investors focused on the Consumer Discretionary space have likely heard of Salem Media Group (SALM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Salem Media Group is one of 243 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #11 in 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 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. SALM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SALM's full-year earnings has moved 50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SALM has returned 7.18% so far this year. In comparison, Consumer Discretionary companies have returned an average of 20.10%. This means that Salem Media Group is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SALM belongs to the Broadcast Radio and Television industry, which includes 26 individual stocks and currently sits at #153 in the Zacks Industry Rank. Stocks in this group have gained about 26.76% so far this year, so SALM is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to SALM as it looks to continue its solid performance.