Investors focused on the Consumer Discretionary space have likely heard of Sony (SNE - 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.
Sony is one of 241 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit 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. SNE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNE's full-year earnings has moved 8.44% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SNE has returned about 3.24% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of 0.73% on a year-to-date basis. This shows that Sony is outperforming its peers so far this year.
Looking more specifically, SNE belongs to the Audio Video Production industry, a group that includes 10 individual stocks and currently sits at #192 in the Zacks Industry Rank. On average, this group has gained an average of 2.99% so far this year, meaning that SNE is performing better in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to SNE as it looks to continue its solid performance.