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Has ArcelorMittal (MT) Outpaced Other Basic Materials Stocks This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. ArcelorMittal (MT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MT's full-year earnings has moved 56.87% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MT has returned 32.97% so far this year. Meanwhile, the Basic Materials sector has returned an average of 19.04% on a year-to-date basis. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MT belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 44.31% so far this year, so MT is slightly underperforming its industry in this area.
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?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. ArcelorMittal (MT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MT's full-year earnings has moved 56.87% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MT has returned 32.97% so far this year. Meanwhile, the Basic Materials sector has returned an average of 19.04% on a year-to-date basis. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MT belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 44.31% so far this year, so MT is slightly underperforming its industry in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.