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Has ArcelorMittal (MT) Outpaced Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
ArcelorMittal is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 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 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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MT's full-year earnings has moved 157.39% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MT has returned about 28.17% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 14.10% on average. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, this group has gained an average of 31.75% so far this year, meaning that MT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.
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Has ArcelorMittal (MT) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
ArcelorMittal is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 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 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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MT's full-year earnings has moved 157.39% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MT has returned about 28.17% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 14.10% on average. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, this group has gained an average of 31.75% so far this year, meaning that MT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.