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? 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.
Celanese is a member of our Basic Materials group, which includes 247 different companies and currently sits at #13 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 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. CE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CE's full-year earnings has moved 13.01% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CE has returned 2.82% so far this year. In comparison, Basic Materials companies have returned an average of -5.71%. This means that Celanese is performing better than its sector in terms of year-to-date returns.
To break things down more, CE belongs to the Chemical - Specialty industry, a group that includes 35 individual companies and currently sits at #208 in the Zacks Industry Rank. This group has gained an average of 4.76% so far this year, so CE is slightly underperforming its industry in this area.
Investors in the Basic Materials sector will want to keep a close eye on CE as it attempts to continue its solid performance.