Investors focused on the Basic Materials space have likely heard of Celanese (CE - Free Report) , 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.
Celanese is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #15. 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. CE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CE's full-year earnings has moved 13.44% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CE has gained about 7.69% so far this year. At the same time, Basic Materials stocks have lost an average of 6.84%. As we can see, Celanese is performing better than its sector in the calendar year.
Looking more specifically, CE belongs to the Chemical - Diversified industry, a group that includes 44 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have lost 3.17% this year, meaning that CE is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track CE. The stock will be looking to continue its solid performance.