For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Codere Online Luxembourg, S.A. (CDRO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Codere Online Luxembourg, S.A. is one of 243 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #8 within 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. Codere Online Luxembourg, S.A. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDRO's full-year earnings has moved 16.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CDRO has gained about 14.9% so far this year. At the same time, Consumer Discretionary stocks have lost an average of 8.9%. As we can see, Codere Online Luxembourg, S.A. is performing better than its sector in the calendar year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Life Time Group Holdings, Inc. (LTH). The stock is up 25% year-to-date.
The consensus estimate for Life Time Group Holdings, Inc.'s current year EPS has increased 7.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Codere Online Luxembourg, S.A. belongs to the Gaming industry, a group that includes 37 individual companies and currently sits at #97 in the Zacks Industry Rank. Stocks in this group have lost about 19.6% so far this year, so CDRO is performing better this group in terms of year-to-date returns.
Life Time Group Holdings, Inc., however, belongs to the Leisure and Recreation Services industry. Currently, this 27-stock industry is ranked #176. The industry has moved -10.6% so far this year.
Investors interested in the Consumer Discretionary sector may want to keep a close eye on Codere Online Luxembourg, S.A. and Life Time Group Holdings, Inc. as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).