For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Methanex (MEOH - Free Report) 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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Methanex is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within 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. Methanex is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MEOH's full-year earnings has moved 18% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MEOH has moved about 38.9% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 16.5% on average. This means that Methanex is outperforming the sector as a whole this year.
Nutrien (NTR - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 38%.
Over the past three months, Nutrien's consensus EPS estimate for the current year has increased 41.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Methanex belongs to the Chemical - Diversified industry, which includes 38 individual stocks and currently sits at #175 in the Zacks Industry Rank. On average, stocks in this group have lost 3.2% this year, meaning that MEOH is performing better in terms of year-to-date returns.
In contrast, Nutrien falls under the Fertilizers industry. Currently, this industry has 7 stocks and is ranked #26. Since the beginning of the year, the industry has moved +44.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Methanex and Nutrien as they attempt to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Methanex (MEOH - Free Report) 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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Methanex is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within 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. Methanex is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MEOH's full-year earnings has moved 18% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MEOH has moved about 38.9% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 16.5% on average. This means that Methanex is outperforming the sector as a whole this year.
Nutrien (NTR - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 38%.
Over the past three months, Nutrien's consensus EPS estimate for the current year has increased 41.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Methanex belongs to the Chemical - Diversified industry, which includes 38 individual stocks and currently sits at #175 in the Zacks Industry Rank. On average, stocks in this group have lost 3.2% this year, meaning that MEOH is performing better in terms of year-to-date returns.
In contrast, Nutrien falls under the Fertilizers industry. Currently, this industry has 7 stocks and is ranked #26. Since the beginning of the year, the industry has moved +44.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Methanex and Nutrien as they attempt to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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