Published on 3 Apr 2024 on Zacks via Yahoo Finance
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 Madison Square Garden Entertainment (MSGE) been one of those stocks this year? 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.
Madison Square Garden Entertainment is one of 286 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Madison Square Garden Entertainment is currently sporting a Zacks Rank of #1 (Strong Buy).