Is Schnitzer Steel Industries (SCHN) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

Tue, Jul 27, 2021, 11:30 AM2 min read

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? One simple way to answer this question is to take a look at the year-to-date performance of SCHN and the rest of the Basic Materials group's stocks.

Schnitzer Steel Industries is one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 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. 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 19.90% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, SCHN has moved about 62.52% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 19.15%. This shows that Schnitzer Steel Industries is outperforming its peers so far this year.

To break things down more, SCHN belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #7 in the Zacks Industry Rank. Stocks in this group have gained about 51.01% so far this year, so SCHN is performing better this group in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track SCHN. The stock will be looking to continue its solid performance.

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Is Schnitzer Steel Industries (SCHN) Stock Outpacing Its Basic Materials Peers This Year?

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