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Has United States Steel (X) Outpaced Other Basic Materials Stocks 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. Is United States Steel (X - Free Report) one of those stocks right now? 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.

United States Steel 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 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. X is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for X's full-year earnings has moved 104.11% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that X has returned about 38.34% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 18.90%. This shows that United States Steel is outperforming its peers so far this year.

To break things down more, X belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #7 in the Zacks Industry Rank. This group has gained an average of 45.44% so far this year, so X is slightly underperforming its industry in this area.

X 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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