Is Paramount Global (PARAA) Stock Outpacing Its Consumer Discretionary Peers This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Paramount Global (PARAA) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
Paramount Global is a member of the Consumer Discretionary sector. This group includes 292 individual stocks and currently holds a Zacks Sector Rank of #13. 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. Paramount Global is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PARAA's full-year earnings has moved 1.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PARAA has moved about 21.9% on a year-to-date basis. Meanwhile, the Consumer Discretionary sector has returned an average of 4.1% on a year-to-date basis. As we can see, Paramount Global is performing better than its sector in the calendar year.
Another stock in the Consumer Discretionary sector, K12 (LRN), has outperformed the sector so far this year. The stock's year-to-date return is 7.2%.
In K12's case, the consensus EPS estimate for the current year increased 7.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Paramount Global is a member of the Media Conglomerates industry, which includes 15 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, this group has gained an average of 19.6% so far this year, meaning that PARAA is performing better in terms of year-to-date returns.
On the other hand, K12 belongs to the Schools industry. This 19-stock industry is currently ranked #6. The industry has moved +8.3% year to date.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to Paramount Global and K12 as they could maintain their 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
Paramount Global (PARAA) : Free Stock Analysis Report
Stride, Inc. (LRN) : Free Stock Analysis Report
