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Has ArcelorMittal (MT) Outpaced Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MT and the rest of the Basic Materials group's stocks.
ArcelorMittal is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #6. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MT's full-year earnings has moved 206.86% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MT has gained about 6.77% so far this year. In comparison, Basic Materials companies have returned an average of 11.07%. As we can see, ArcelorMittal is performing better than its sector in the calendar year.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 11.33% this year, meaning that MT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.
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Has ArcelorMittal (MT) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MT and the rest of the Basic Materials group's stocks.
ArcelorMittal is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #6. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MT's full-year earnings has moved 206.86% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MT has gained about 6.77% so far this year. In comparison, Basic Materials companies have returned an average of 11.07%. As we can see, ArcelorMittal is performing better than its sector in the calendar year.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 11.33% this year, meaning that MT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.