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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. ArcelorMittal (MT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of MT and the rest of the Basic Materials group's stocks.
ArcelorMittal is a member of our Basic Materials group, which includes 245 different companies and currently sits at #7 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 73.15% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MT has moved about 42.31% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 25.33% on a year-to-date basis. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MT belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 51.72% so far this year, so MT is slightly underperforming its industry in this area.
Investors with an interest in Basic Materials stocks should continue to track MT. The stock will be looking to continue its solid performance.
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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. ArcelorMittal (MT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of MT and the rest of the Basic Materials group's stocks.
ArcelorMittal is a member of our Basic Materials group, which includes 245 different companies and currently sits at #7 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 73.15% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MT has moved about 42.31% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 25.33% on a year-to-date basis. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MT belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 51.72% so far this year, so MT is slightly underperforming its industry in this area.
Investors with an interest in Basic Materials stocks should continue to track MT. The stock will be looking to continue its solid performance.