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Is Commercial Metals (CMC) 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. Is Commercial Metals (CMC - Free Report) one of those stocks right now? 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.
Commercial Metals is a member of our Basic Materials group, which includes 251 different companies and currently sits at #7 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. Commercial Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CMC's full-year earnings has moved 17% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CMC has returned about 75.3% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 10.2%. As we can see, Commercial Metals is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Denison Mine (DNN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 124.1%.
Over the past three months, Denison Mine's consensus EPS estimate for the current year has increased 200%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Commercial Metals belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 39.2% so far this year, so CMC is performing better this group in terms of year-to-date returns.
Denison Mine, however, belongs to the Mining - Miscellaneous industry. Currently, this 51-stock industry is ranked #179. The industry has moved +2.7% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Commercial Metals and Denison Mine. These stocks will be looking to continue their solid performance.
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Is Commercial Metals (CMC) 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. Is Commercial Metals (CMC - Free Report) one of those stocks right now? 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.
Commercial Metals is a member of our Basic Materials group, which includes 251 different companies and currently sits at #7 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. Commercial Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CMC's full-year earnings has moved 17% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CMC has returned about 75.3% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 10.2%. As we can see, Commercial Metals is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Denison Mine (DNN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 124.1%.
Over the past three months, Denison Mine's consensus EPS estimate for the current year has increased 200%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Commercial Metals belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 39.2% so far this year, so CMC is performing better this group in terms of year-to-date returns.
Denison Mine, however, belongs to the Mining - Miscellaneous industry. Currently, this 51-stock industry is ranked #179. The industry has moved +2.7% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Commercial Metals and Denison Mine. These stocks will be looking to continue their solid performance.