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Has Commercial Metals (CMC) Outpaced Other Basic Materials Stocks This Year?

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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Commercial Metals (CMC - Free Report) one of those stocks right now? 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.

Commercial Metals is a member of the Basic Materials sector. This group includes 243 individual stocks and currently holds a Zacks Sector Rank of #16. 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 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. CMC is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for CMC's full-year earnings has moved 22.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, CMC has returned 4.04% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 2.17% on average. As we can see, Commercial Metals is performing better than its sector in the calendar year.

Looking more specifically, CMC belongs to the Steel - Producers industry, a group that includes 26 individual stocks and currently sits at #163 in the Zacks Industry Rank. On average, stocks in this group have lost 1.24% this year, meaning that CMC 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 CMC as it looks to continue its solid performance.


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