Is fuboTV (FUBO) Stock Outpacing Its Consumer Discretionary Peers This Year?
Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is fuboTV Inc. (FUBO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
fuboTV Inc. is one of 283 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. fuboTV Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FUBO's full-year earnings has moved 9.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, FUBO has moved about 1.7% on a year-to-date basis. At the same time, Consumer Discretionary stocks have lost an average of 33%. This means that fuboTV Inc. is performing better than its sector in terms of year-to-date returns.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Liberty Media (FWONK). The stock is up 2.6% year-to-date.
For Liberty Media, the consensus EPS estimate for the current year has increased 32.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, fuboTV Inc. belongs to the Broadcast Radio and Television industry, a group that includes 23 individual stocks and currently sits at #230 in the Zacks Industry Rank. This group has lost an average of 49.4% so far this year, so FUBO is performing better in this area.
On the other hand, Liberty Media belongs to the Media Conglomerates industry. This 7-stock industry is currently ranked #171. The industry has moved -35.2% year to date.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to fuboTV Inc. and Liberty Media as they could maintain their solid performance.
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