Are Consumer Discretionary Stocks Lagging fuboTV (FUBO) 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 fuboTV Inc. (FUBO) been one of those stocks this year? 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.
fuboTV Inc. is one of 281 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 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. fuboTV Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FUBO's full-year earnings has moved 4.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FUBO has gained about 68.4% so far this year. At the same time, Consumer Discretionary stocks have gained an average of 8.7%. This shows that fuboTV Inc. is outperforming its peers so far this year.
G-III Apparel Group (GIII) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 103.5%.
In G-III Apparel Group's case, the consensus EPS estimate for the current year increased 14.1% 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, which includes 22 individual stocks and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have gained about 25.9% so far this year, so FUBO is performing better this group in terms of year-to-date returns.
On the other hand, G-III Apparel Group belongs to the Textile - Apparel industry. This 19-stock industry is currently ranked #94. The industry has moved +2.2% year to date.
fuboTV Inc. and G-III Apparel Group could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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