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Has Sirius XM Holdings (SIRI) Outpaced Other Consumer Discretionary Stocks This Year?

Zacks Equity Research
Updated
RLI Corp. (RLI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Sirius XM Holdings (SIRI) one of those stocks right now? 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.

Sirius XM Holdings is a member of our Consumer Discretionary group, which includes 243 different companies and currently sits at #11 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 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. SIRI is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SIRI's full-year earnings has moved 0.65% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, SIRI has gained about 14.55% so far this year. Meanwhile, stocks in the Consumer Discretionary group have gained about 0.63% on average. This shows that Sirius XM Holdings is outperforming its peers so far this year.

Breaking things down more, SIRI is a member of the Broadcast Radio and Television industry, which includes 23 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have gained 25.79% this year, meaning that SIRI is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to SIRI as it looks to continue its solid performance.


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