Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Has Sony (SNE) been one of those stocks this year? 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.
Sony is one of 258 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #11 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SNE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNE's full-year earnings has moved 9.67% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SNE has gained about 14.59% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 2.91% on average. This shows that Sony is outperforming its peers so far this year.
Looking more specifically, SNE belongs to the Audio Video Production industry, which includes 6 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 8.34% so far this year, meaning that SNE is performing better 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
