Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Steel Dynamics (STLD) one of those stocks right now? 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.
Steel Dynamics is a member of our Basic Materials group, which includes 239 different companies and currently sits at #2 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 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. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for STLD's full-year earnings has moved 19.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that STLD has returned about 5.1% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 3.2%. This means that Steel Dynamics is outperforming the sector as a whole this year.
Energy Fuels (UUUU) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 3.1%.
For Energy Fuels, the consensus EPS estimate for the current year has increased 980% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Steel Dynamics belongs to the Steel - Producers industry, a group that includes 22 individual stocks and currently sits at #15 in the Zacks Industry Rank.
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Today, See These 5 Potential Home Runs >>Steel Dynamics, Inc. (STLD) : Free Stock Analysis Report
Energy Fuels Inc (UUUU) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
