Has Sony (SNE) Outpaced Other Consumer Discretionary Stocks This Year?
Investors focused on the Consumer Discretionary space have likely heard of Sony (SNE), 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.
Sony is one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #12 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SNE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNE's full-year earnings has moved 0.71% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SNE has gained about 18.34% so far this year. In comparison, Consumer Discretionary companies have returned an average of -3.46%. As we can see, Sony is performing better than its sector in the calendar year.
To break things down more, SNE belongs to the Audio Video Production industry, a group that includes 8 individual companies and currently sits at #30 in the Zacks Industry Rank. On average, this group has gained an average of 13.26% so far this year, meaning that SNE is performing better in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track SNE. The stock will be looking to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sony Corporation (SNE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
