We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Norsk Hydro ASA (NHYDY) Outperforming Other Basic Materials Stocks This Year?
Read MoreHide Full Article
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Norsk Hydro ASA (NHYDY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Norsk Hydro ASA is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Norsk Hydro ASA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NHYDY's full-year earnings has moved 40% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NHYDY has returned about 47.9% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 19.5%. This shows that Norsk Hydro ASA is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Perimeter Solutions, SA (PRM - Free Report) . The stock is up 23.5% year-to-date.
For Perimeter Solutions, SA, the consensus EPS estimate for the current year has increased 55.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Norsk Hydro ASA belongs to the Mining - Miscellaneous industry, a group that includes 72 individual companies and currently sits at #161 in the Zacks Industry Rank. On average, this group has gained an average of 32% so far this year, meaning that NHYDY is performing better in terms of year-to-date returns.
On the other hand, Perimeter Solutions, SA belongs to the Chemical - Specialty industry. This 44-stock industry is currently ranked #103. The industry has moved +10.6% year to date.
Investors with an interest in Basic Materials stocks should continue to track Norsk Hydro ASA and Perimeter Solutions, SA. These stocks will be looking to continue their solid performance.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Is Norsk Hydro ASA (NHYDY) Outperforming 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. Is Norsk Hydro ASA (NHYDY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Norsk Hydro ASA is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Norsk Hydro ASA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NHYDY's full-year earnings has moved 40% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NHYDY has returned about 47.9% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 19.5%. This shows that Norsk Hydro ASA is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Perimeter Solutions, SA (PRM - Free Report) . The stock is up 23.5% year-to-date.
For Perimeter Solutions, SA, the consensus EPS estimate for the current year has increased 55.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Norsk Hydro ASA belongs to the Mining - Miscellaneous industry, a group that includes 72 individual companies and currently sits at #161 in the Zacks Industry Rank. On average, this group has gained an average of 32% so far this year, meaning that NHYDY is performing better in terms of year-to-date returns.
On the other hand, Perimeter Solutions, SA belongs to the Chemical - Specialty industry. This 44-stock industry is currently ranked #103. The industry has moved +10.6% year to date.
Investors with an interest in Basic Materials stocks should continue to track Norsk Hydro ASA and Perimeter Solutions, SA. These stocks will be looking to continue their solid performance.