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Has Schnitzer Steel Industries (SCHN) Outpaced Other Basic Materials Stocks This Year?

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Investors focused on the Basic Materials space have likely heard of Schnitzer Steel Industries (SCHN), 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.

Schnitzer Steel Industries is one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. SCHN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 19.90% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, SCHN has gained about 73.64% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.73% on a year-to-date basis. This means that Schnitzer Steel Industries is outperforming the sector as a whole this year.

Looking more specifically, SCHN belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 65.76% so far this year, so SCHN is performing better this group in terms of year-to-date returns.

SCHN will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.


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