Investors focused on the Basic Materials space have likely heard of Schnitzer Steel Industries , 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 SCHN and the rest of the Basic Materials group's stocks.
Schnitzer Steel Industries is a member of our Basic Materials group, which includes 239 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 144.90% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SCHN has returned 7.49% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 5.25% on average. This means that Schnitzer Steel Industries is outperforming the sector as a whole this year.
Looking more specifically, SCHN belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has gained an average of 1.43% so far this year, so SCHN is performing better in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SCHN as it looks to continue its solid performance.
Image: Bigstock
Is Schnitzer Steel Industries (SCHN) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Schnitzer Steel Industries , 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 SCHN and the rest of the Basic Materials group's stocks.
Schnitzer Steel Industries is a member of our Basic Materials group, which includes 239 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 144.90% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SCHN has returned 7.49% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 5.25% on average. This means that Schnitzer Steel Industries is outperforming the sector as a whole this year.
Looking more specifically, SCHN belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has gained an average of 1.43% so far this year, so SCHN is performing better in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SCHN as it looks to continue its solid performance.