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Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Dolby Laboratories (DLB) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Dolby Laboratories is one of 267 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #8 in 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Dolby Laboratories is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DLB's full-year earnings has moved 1.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DLB has returned 2.3% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of -5% on a year-to-date basis. This shows that Dolby Laboratories is outperforming its peers so far this year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Fox Corporation (FOX). The stock has returned 10.5% year-to-date.
The consensus estimate for Fox Corporation's current year EPS has increased 13.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Dolby Laboratories is a member of the Audio Video Production industry, which includes 8 individual companies and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have lost 5.2% this year, meaning that DLB is performing better in terms of year-to-date returns.
Fox Corporation, however, belongs to the Broadcast Radio and Television industry. Currently, this 19-stock industry is ranked #68. The industry has moved +4.8% so far this year.
Dolby Laboratories and Fox Corporation 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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