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Is Steel Dynamics (STLD) Outperforming Other Basic Materials Stocks 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. Is Steel Dynamics (STLD - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Steel Dynamics is a member of the Basic Materials sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Steel Dynamics is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 15.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that STLD has returned about 16.3% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 5% on average. This shows that Steel Dynamics is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is TimkenSteel . The stock is up 7.5% year-to-date.
For TimkenSteel, the consensus EPS estimate for the current year has increased 8.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Steel Dynamics belongs to the Steel - Producers industry, a group that includes 23 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 5.7% so far this year, meaning that STLD is performing better in terms of year-to-date returns. TimkenSteel is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Steel Dynamics and TimkenSteel. These stocks will be looking to continue their solid performance.
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Is Steel Dynamics (STLD) Outperforming Other Basic Materials Stocks 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. Is Steel Dynamics (STLD - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Steel Dynamics is a member of the Basic Materials sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Steel Dynamics is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 15.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that STLD has returned about 16.3% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 5% on average. This shows that Steel Dynamics is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is TimkenSteel . The stock is up 7.5% year-to-date.
For TimkenSteel, the consensus EPS estimate for the current year has increased 8.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Steel Dynamics belongs to the Steel - Producers industry, a group that includes 23 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 5.7% so far this year, meaning that STLD is performing better in terms of year-to-date returns. TimkenSteel is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Steel Dynamics and TimkenSteel. These stocks will be looking to continue their solid performance.