The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Bally's (BALY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
Bally's is a member of our Consumer Discretionary group, which includes 257 different companies and currently sits at #13 in 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 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. Bally's is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BALY's full-year earnings has moved 62.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BALY has gained about 0.8% so far this year. At the same time, Consumer Discretionary stocks have lost an average of 10.2%. As we can see, Bally's is performing better than its sector in the calendar year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Colruyt SA Unsponsored ADR (CUYTY). The stock has returned 17.6% year-to-date.
Over the past three months, Colruyt SA Unsponsored ADR's consensus EPS estimate for the current year has increased 3.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Bally's is a member of the Gaming industry, which includes 41 individual companies and currently sits at #145 in the Zacks Industry Rank. On average, this group has lost an average of 11.5% so far this year, meaning that BALY is performing better in terms of year-to-date returns.
On the other hand, Colruyt SA Unsponsored ADR belongs to the Consumer Products - Discretionary industry. This 24-stock industry is currently ranked #200. The industry has moved -11.1% year to date.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to Bally's and Colruyt SA Unsponsored ADR as they could maintain their solid performance.
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Bally's Corporation (BALY): Free Stock Analysis Report Colruyt SA Unsponsored ADR (CUYTY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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