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Is Schnitzer Steel Industries (SCHN) 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. Has Schnitzer Steel Industries (SCHN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Schnitzer Steel Industries is one of 235 individual stocks in the Basic Materials sector. Collectively, these companies sit at #11 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 90 days, the Zacks Consensus Estimate for SCHN's full-year earnings has moved 25.64% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, SCHN has moved about 8.76% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 7.34%. As we can see, Schnitzer Steel Industries is performing better than its sector in the calendar year.

Breaking things down more, SCHN is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #130 in the Zacks Industry Rank. Stocks in this group have lost about 3.30% 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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