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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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
National Steel is a member of our Basic Materials group, which includes 251 different companies and currently sits at #8 in 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 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. SID is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SID's full-year earnings has moved 47.61% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, SID has returned 49.41% so far this year. In comparison, Basic Materials companies have returned an average of 19.90%. This means that National Steel is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SID is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 52.25% so far this year, so SID is slightly underperforming its industry in this area.
Investors in the Basic Materials sector will want to keep a close eye on SID as it attempts to continue its solid performance.
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