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? One simple way to answer this question is to take a look at the year-to-date performance of WWE and the rest of the Consumer Discretionary group’s stocks.
World Wrestling Entertainment is one of 250 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #6 within 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 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. WWE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for WWE’s full-year earnings has moved 6.92% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, WWE has moved about 15.82% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 15.32%. This means that World Wrestling Entertainment is performing better than its sector in terms of year-to-date returns.
Breaking things down more, WWE is a member of the Film and Television Production and Distribution industry, which includes 11 individual companies and currently sits at #47 in the Zacks Industry Rank. On average, this group has gained an average of 10.73% so far 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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