For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Schnitzer Steel Industries been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Schnitzer Steel Industries is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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 #2 (Buy).
The Zacks Consensus Estimate for SCHN's full-year earnings has moved 81.33% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SCHN has moved about 30.84% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 13.79% on a year-to-date basis. This means that Schnitzer Steel Industries is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SCHN belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 30.21% so far this year, meaning that SCHN is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on SCHN as it attempts to continue its solid performance.
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Is Schnitzer Steel Industries (SCHN) Stock Outpacing Its Basic Materials Peers This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Schnitzer Steel Industries been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Schnitzer Steel Industries is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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 #2 (Buy).
The Zacks Consensus Estimate for SCHN's full-year earnings has moved 81.33% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SCHN has moved about 30.84% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 13.79% on a year-to-date basis. This means that Schnitzer Steel Industries is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SCHN belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 30.21% so far this year, meaning that SCHN is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on SCHN as it attempts to continue its solid performance.