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For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. Atlanta Braves Holdings, Inc. (BATRA) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Conglomerates sector should help us answer this question.
Atlanta Braves Holdings, Inc. is one of 24 companies in the Conglomerates group. The Conglomerates group currently sits at #1 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. Atlanta Braves Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BATRA's full-year earnings has moved 43.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BATRA has gained about 2% so far this year. Meanwhile, the Conglomerates sector has returned an average of -9.1% on a year-to-date basis. This means that Atlanta Braves Holdings, Inc. is outperforming the sector as a whole this year.
Bunzl PLC (BZLFY) is another Conglomerates stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.8%.
The consensus estimate for Bunzl PLC's current year EPS has increased 4.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atlanta Braves Holdings, Inc. belongs to the Diversified Operations industry, a group that includes 24 individual stocks and currently sits at #38 in the Zacks Industry Rank. This group has lost an average of 9.1% so far this year, so BATRA is performing better in this area. Bunzl PLC is also part of the same industry.
Investors interested in the Conglomerates sector may want to keep a close eye on Atlanta Braves Holdings, Inc. and Bunzl PLC as they attempt to continue their solid performance.
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