Back to top

Image: Bigstock

Has Super League Gaming (SLGG) Outpaced Other Consumer Discretionary Stocks This Year?

Read MoreHide Full Article

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Super League Gaming is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of SLGG and the rest of the Consumer Discretionary group's stocks.

Super League Gaming is a member of our Consumer Discretionary group, which includes 240 different companies and currently sits at #8 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 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. SLGG is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for SLGG's full-year earnings has moved 67.01% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that SLGG has returned about 38.98% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of -5.73%. This means that Super League Gaming is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SLGG belongs to the Gaming industry, which includes 25 individual stocks and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have lost 14.27% this year, meaning that SLGG is performing better in terms of year-to-date returns.

Investors in the Consumer Discretionary sector will want to keep a close eye on SLGG as it attempts to continue its solid performance.

Published in