The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has National Steel (SID - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
National Steel is one of 246 individual stocks in the Basic Materials sector. Collectively, these companies sit at #16 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 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. SID is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SID's full-year earnings has moved 53.33% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SID has returned about 36.53% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 10.96%. This means that National Steel is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SID belongs to the Steel - Producers industry, which includes 27 individual stocks and currently sits at #239 in the Zacks Industry Rank. On average, this group has lost an average of 7.35% so far this year, meaning that SID is performing better in terms of year-to-date returns.
SID will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.