Investors focused on the Basic Materials space have likely heard of National Steel (SID), 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 SID and the rest of the Basic Materials group's stocks.
National Steel is a member of our Basic Materials group, which includes 237 different companies and currently sits at #14 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 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. SID is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SID's full-year earnings has moved 143.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SID has returned 86.30% so far this year. Meanwhile, the Basic Materials sector has returned an average of 4.29% on a year-to-date basis. This means that National Steel is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SID belongs to the Steel - Producers industry, which includes 28 individual stocks and currently sits at #229 in the Zacks Industry Rank. This group has lost an average of 9.08% so far this year, so SID is performing better in this area.
Investors with an interest in Basic Materials stocks should continue to track SID. The stock will be looking to continue its solid performance.
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