Is Netflix (NFLX) Stock Outpacing Its Consumer Discretionary Peers This Year?
Investors focused on the Consumer Discretionary space have likely heard of Netflix (NFLX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NFLX and the rest of the Consumer Discretionary group's stocks.
Netflix is one of 241 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. NFLX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NFLX's full-year earnings has moved 8.51% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NFLX has moved about 8.04% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 0.68%. As we can see, Netflix is performing better than its sector in the calendar year.
Looking more specifically, NFLX belongs to the Broadcast Radio and Television industry, which includes 24 individual stocks and currently sits at #80 in the Zacks Industry Rank. This group has gained an average of 2.91% so far this year, so NFLX is performing better in this area.
Investors with an interest in Consumer Discretionary stocks should continue to track NFLX. The stock will be looking to continue its solid performance.
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