Yahoo Finance Are Consumer Discretionary Stocks Lagging DraftKings (DKNG) This Year?
Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Has DraftKings (DKNG) been one of those stocks this year? 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.
DraftKings is one of 274 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DKNG's full-year earnings has moved 25.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DKNG has returned about 100.7% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of 8.1% on a year-to-date basis. This means that DraftKings is outperforming the sector as a whole this year.
Another stock in the Consumer Discretionary sector, Las Vegas Sands (LVS), has outperformed the sector so far this year. The stock's year-to-date return is 24.1%.
The consensus estimate for Las Vegas Sands' current year EPS has increased 29.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DraftKings is a member of the Gaming industry, which includes 38 individual companies and currently sits at #58 in the Zacks Industry Rank. Stocks in this group have gained about 27.2% so far this year, so DKNG is performing better this group in terms of year-to-date returns. Las Vegas Sands is also part of the same industry.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to DraftKings and Las Vegas Sands as they could maintain their solid performance.
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DraftKings Inc. (DKNG) : Free Stock Analysis Report
Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report
