Is GDEV Inc. (GDEV) Outperforming Other Consumer Discretionary Stocks This Year?

Zacks
2024-10-07

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. GDEV Inc. (GDEV) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.

GDEV Inc. is a member of the Consumer Discretionary sector. This group includes 272 individual stocks and currently holds a Zacks Sector Rank of #7. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. GDEV Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GDEV's full-year earnings has moved 48.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, GDEV has gained about 45.8% so far this year. In comparison, Consumer Discretionary companies have returned an average of 5.1%. This means that GDEV Inc. is outperforming the sector as a whole this year.

H&R Block (HRB) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 29.2%.

In H&R Block's case, the consensus EPS estimate for the current year increased 9.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, GDEV Inc. belongs to the Gaming industry, a group that includes 41 individual stocks and currently sits at #145 in the Zacks Industry Rank. Stocks in this group have gained about 15.4% so far this year, so GDEV is performing better this group in terms of year-to-date returns.

H&R Block, however, belongs to the Consumer Services - Miscellaneous industry. Currently, this 11-stock industry is ranked #22. The industry has moved +7.3% so far this year.

Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to GDEV Inc. and H&R Block as they could maintain their solid performance.

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