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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has ArcelorMittal (MT - Free Report) 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.
ArcelorMittal is one of 245 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 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 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).
The Zacks Consensus Estimate for MT's full-year earnings has moved 73.15% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MT has gained about 35.50% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 19.64% on average. This means that ArcelorMittal is outperforming the sector as a whole this year.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have gained 44.79% 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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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has ArcelorMittal (MT - Free Report) 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.
ArcelorMittal is one of 245 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 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 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).
The Zacks Consensus Estimate for MT's full-year earnings has moved 73.15% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MT has gained about 35.50% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 19.64% on average. This means that ArcelorMittal is outperforming the sector as a whole this year.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have gained 44.79% 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.