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. Is DraftKings (DKNG) one of those stocks right now? 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.
DraftKings is one of 276 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #10 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 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. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DKNG's full-year earnings has moved 9.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DKNG has moved about 118.8% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 7.6% on average. This shows that DraftKings is outperforming its peers so far this year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Playa Hotels & Resorts (PLYA). The stock is up 43.8% year-to-date.
The consensus estimate for Playa Hotels & Resorts' current year EPS has increased 20.4% 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 39 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 26.9% this year, meaning that DKNG is performing better in terms of year-to-date returns.
On the other hand, Playa Hotels & Resorts belongs to the Hotels and Motels industry. This 15-stock industry is currently ranked #73. The industry has moved +13.2% year to date.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to DraftKings and Playa Hotels & Resorts as they could maintain their solid performance.
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DraftKings Inc. (DKNG) : Free Stock Analysis Report
Playa Hotels & Resorts N.V. (PLYA) : Free Stock Analysis Report
