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Investors focused on the Consumer Staples space have likely heard of Newell Brands (NWL), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.
Newell Brands is one of 174 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #9 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 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. NWL is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NWL's full-year earnings has moved 34.51% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NWL has returned 4.42% so far this year. Meanwhile, the Consumer Staples sector has returned an average of 2.64% on a year-to-date basis. This shows that Newell Brands is outperforming its peers so far this year.
Looking more specifically, NWL belongs to the Consumer Products - Staples industry, which includes 19 individual stocks and currently sits at #163 in the Zacks Industry Rank. On average, stocks in this group have gained 4.67% this year, meaning that NWL is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to NWL as it looks to continue its solid performance.
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