Investors focused on the Basic Materials space have likely heard of United States Steel (X), 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.
United States Steel is a member of our Basic Materials group, which includes 251 different companies and currently sits at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. X is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for X's full-year earnings has moved 111.73% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, X has gained about 57.90% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 20.52% on average. This means that United States Steel is performing better than its sector in terms of year-to-date returns.
Breaking things down more, X is a member of the Steel – Producers industry, which includes 24 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, this group has gained an average of 56.10% so far this year, meaning that X is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to X as it looks to continue its solid performance.
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