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Is Schnitzer Steel Industries (SCHN) Outperforming Other Basic Materials Stocks This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Schnitzer Steel Industries (SCHN - Free Report) one of those stocks right now? 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.

Schnitzer Steel Industries is a member of our Basic Materials group, which includes 235 different companies and currently sits at #13 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 74.85% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, SCHN has moved about 29.04% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 17.54% on a year-to-date basis. As we can see, Schnitzer Steel Industries is performing better than its sector in the calendar year.

Breaking things down more, SCHN is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #119 in the Zacks Industry Rank. Stocks in this group have gained about 16.27% so far this year, so SCHN is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SCHN as it looks to continue its solid performance.


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