Is Boyd Gaming (BYD) Stock Outpacing Its Consumer Discretionary Peers This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Boyd Gaming (BYD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Boyd Gaming is one of 259 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BYD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BYD's full-year earnings has moved 54.36% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BYD has moved about 31.27% on a year-to-date basis. Meanwhile, the Consumer Discretionary sector has returned an average of -1.27% on a year-to-date basis. This means that Boyd Gaming is outperforming the sector as a whole this year.
Looking more specifically, BYD belongs to the Gaming industry, a group that includes 35 individual stocks and currently sits at #167 in the Zacks Industry Rank. Stocks in this group have gained about 6.98% so far this year, so BYD is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to BYD as it looks to continue its solid performance.
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