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 a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SCHN's full-year earnings has moved 76.47% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SCHN has moved about 55.09% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 16.20% on a year-to-date basis. 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 #11 in the Zacks Industry Rank. On average, stocks in this group have gained 39.45% this year, meaning that SCHN is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track SCHN. The stock will be looking to continue its solid performance.
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Is Schnitzer Steel Industries (SCHN) Stock Outpacing Its Basic Materials Peers This Year?
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 a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SCHN's full-year earnings has moved 76.47% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SCHN has moved about 55.09% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 16.20% on a year-to-date basis. 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 #11 in the Zacks Industry Rank. On average, stocks in this group have gained 39.45% this year, meaning that SCHN is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track SCHN. The stock will be looking to continue its solid performance.