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 our Basic Materials group, which includes 240 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SCHN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 24.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SCHN has gained about 7.91% so far this year. In comparison, Basic Materials companies have returned an average of -1.16%. This means that Schnitzer Steel Industries is outperforming the sector as a whole this year.
Looking more specifically, SCHN belongs to the Steel - Producers industry, which includes 25 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have gained 5.31% this year, meaning that SCHN is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SCHN as it looks to continue its solid performance.
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Is Schnitzer Steel Industries (SCHN) Outperforming Other Basic Materials Stocks 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 our Basic Materials group, which includes 240 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SCHN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 24.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SCHN has gained about 7.91% so far this year. In comparison, Basic Materials companies have returned an average of -1.16%. This means that Schnitzer Steel Industries is outperforming the sector as a whole this year.
Looking more specifically, SCHN belongs to the Steel - Producers industry, which includes 25 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have gained 5.31% this year, meaning that SCHN is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SCHN as it looks to continue its solid performance.