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Has Chemours (CC) Outpaced Other Basic Materials Stocks This Year?

Zacks Equity Research
Texas Capital (TCBI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Chemours (CC) 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 CC and the rest of the Basic Materials group's stocks.

Chemours is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #8 within 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 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. CC is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for CC's full-year earnings has moved 7.35% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, CC has moved about 2.82% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 2.68%. This means that Chemours is outperforming the sector as a whole this year.

Looking more specifically, CC belongs to the Chemical - Diversified industry, which includes 44 individual stocks and currently sits at #44 in the Zacks Industry Rank. This group has lost an average of 1.31% so far this year, so CC is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on CC as it attempts to continue its solid performance.

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