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 GDEV Inc. (GDEV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
GDEV Inc. is a member of our Consumer Discretionary group, which includes 270 different companies and currently sits at #4 in the Zacks Sector Rank. 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. GDEV Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GDEV's full-year earnings has moved 340% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, GDEV has returned 17% so far this year. At the same time, Consumer Discretionary stocks have gained an average of 11.3%. This means that GDEV Inc. is outperforming the sector as a whole this year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Paramount Global (PARAA). The stock has returned 12.7% year-to-date.
Over the past three months, Paramount Global's consensus EPS estimate for the current year has increased 17.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, GDEV Inc. is a member of the Gaming industry, which includes 41 individual companies and currently sits at #126 in the Zacks Industry Rank. On average, this group has gained an average of 21.4% so far this year, meaning that GDEV is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Paramount Global belongs to the Media Conglomerates industry. This 13-stock industry is currently ranked #80. The industry has moved +17.1% year to date.
GDEV Inc. and Paramount Global could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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