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Has Schnitzer Steel Industries (SCHN) Outpaced Other Basic Materials Stocks This Year?

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Investors focused on the Basic Materials space have likely heard of Schnitzer Steel Industries , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #7 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 75.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that SCHN has returned about 78.19% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 27.47%. This shows that Schnitzer Steel Industries is outperforming its peers so far this year.

Looking more specifically, SCHN belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #20 in the Zacks Industry Rank. On average, this group has gained an average of 54.15% so far this year, meaning that SCHN is performing better in terms of year-to-date returns.

SCHN will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.

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