Investors focused on the Consumer Discretionary space have likely heard of World Wrestling Entertainment (WWE), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
World Wrestling Entertainment is a member of the Consumer Discretionary sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. WWE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WWE's full-year earnings has moved 6.61% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, WWE has moved about 17.93% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 14.17% on average. As we can see, World Wrestling Entertainment is performing better than its sector in the calendar year.
Looking more specifically, WWE belongs to the Film and Television Production and Distribution industry, which includes 11 individual stocks and currently sits at #48 in the Zacks Industry Rank. On average, stocks in this group have gained 10.14% this year, meaning that WWE is performing better in terms of year-to-date returns.
Investors in the Consumer Discretionary sector will want to keep a close eye on WWE as it attempts to continue its solid performance.
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World Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis Report
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