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Is ArcelorMittal (MT) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research
Updated
Cohen & Steers (CNS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ArcelorMittal (MT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

ArcelorMittal is a member of our Basic Materials group, which includes 241 different companies and currently sits at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MT is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for MT's full-year earnings has moved 20.24% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the latest available data, MT has gained about 2.66% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 1.48% on average. This means that ArcelorMittal is outperforming the sector as a whole this year.

Looking more specifically, MT belongs to the Steel - Producers industry, a group that includes 25 individual stocks and currently sits at #78 in the Zacks Industry Rank. On average, this group has gained an average of 5.73% so far this year, meaning that MT is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MT as it looks to continue its solid performance.


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