Investors focused on the Consumer Discretionary space have likely heard of Sony (SNE), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
Sony is one of 241 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within the Zacks Sector Rank. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SNE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SNE's full-year earnings has moved 16.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SNE has moved about 3.07% on a year-to-date basis. At the same time, Consumer Discretionary stocks have lost an average of 0.81%. This means that Sony is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNE belongs to the Audio Video Production industry, which includes 10 individual stocks and currently sits at #29 in the Zacks Industry Rank. Stocks in this group have gained about 0.55% so far this year, so SNE is performing better this group 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.