Are Consumer Discretionary Stocks Lagging Cinemark (CNK) This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Cinemark Holdings (CNK) one of those stocks right now? 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.
Cinemark Holdings is one of 282 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #11 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 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. Cinemark Holdings is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CNK's full-year earnings has moved 146.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CNK has moved about 86.8% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 12.4%. This means that Cinemark Holdings is outperforming the sector as a whole this year.
Corsair Gaming, Inc. (CRSR) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 28.2%.
The consensus estimate for Corsair Gaming, Inc.'s current year EPS has increased 4.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Cinemark Holdings is a member of the Leisure and Recreation Services industry, which includes 34 individual companies and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 30.2% so far this year, so CNK is performing better this group in terms of year-to-date returns.
In contrast, Corsair Gaming, Inc. falls under the Gaming industry. Currently, this industry has 40 stocks and is ranked #74. Since the beginning of the year, the industry has moved +31.6%.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to Cinemark Holdings and Corsair Gaming, Inc. as they could maintain their solid performance.
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