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Is United States Steel (X) Outperforming Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of United States Steel (X - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of X and the rest of the Basic Materials group's stocks.
United States Steel is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. X is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for X's full-year earnings has moved 7.25% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, X has gained about 5.83% so far this year. Meanwhile, the Basic Materials sector has returned an average of -1.94% on a year-to-date basis. This means that United States Steel is performing better than its sector in terms of year-to-date returns.
Breaking things down more, X is a member of the Steel - Producers industry, which includes 25 individual companies and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 3.02% so far this year, so X is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track X. The stock will be looking to continue its solid performance.
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Is United States Steel (X) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of United States Steel (X - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of X and the rest of the Basic Materials group's stocks.
United States Steel is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. X is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for X's full-year earnings has moved 7.25% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, X has gained about 5.83% so far this year. Meanwhile, the Basic Materials sector has returned an average of -1.94% on a year-to-date basis. This means that United States Steel is performing better than its sector in terms of year-to-date returns.
Breaking things down more, X is a member of the Steel - Producers industry, which includes 25 individual companies and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 3.02% so far this year, so X is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track X. The stock will be looking to continue its solid performance.