For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bunge Global (BG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Bunge Global is one of 275 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 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. Bunge Global is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BG's full-year earnings has moved 1.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BG has gained about 25.3% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.8% on a year-to-date basis. As we can see, Bunge Global is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Intrepid Potash (IPI). The stock is up 33% year-to-date.
For Intrepid Potash, the consensus EPS estimate for the current year has increased 14.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bunge Global belongs to the Agriculture - Products industry, a group that includes 3 individual stocks and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have gained about 18% so far this year, so BG is performing better this group in terms of year-to-date returns.
In contrast, Intrepid Potash falls under the Fertilizers industry. Currently, this industry has 6 stocks and is ranked #33. Since the beginning of the year, the industry has moved +14.3%.
Investors with an interest in Basic Materials stocks should continue to track Bunge Global and Intrepid Potash. These stocks will be looking to continue their solid performance.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.