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Is MYR Group (MYRG) Outperforming Other Utilities Stocks This Year?
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For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Is MYR Group (MYRG - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
MYR Group is a member of our Utilities group, which includes 103 different companies and currently sits at #9 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 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. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 12.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MYRG has returned 47.6% so far this year. Meanwhile, stocks in the Utilities group have gained about 1.9% on average. This shows that MYR Group is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is NiSource (NI - Free Report) . The stock is up 4.1% year-to-date.
Over the past three months, NiSource's consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 47.6% so far this year, meaning that MYRG is performing on par in terms of year-to-date returns.
In contrast, NiSource falls under the Utility - Electric Power industry. Currently, this industry has 58 stocks and is ranked #89. Since the beginning of the year, the industry has moved +0.5%.
Going forward, investors interested in Utilities stocks should continue to pay close attention to MYR Group and NiSource as they could maintain their solid performance.
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Is MYR Group (MYRG) Outperforming Other Utilities Stocks This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Is MYR Group (MYRG - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
MYR Group is a member of our Utilities group, which includes 103 different companies and currently sits at #9 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 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. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 12.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MYRG has returned 47.6% so far this year. Meanwhile, stocks in the Utilities group have gained about 1.9% on average. This shows that MYR Group is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is NiSource (NI - Free Report) . The stock is up 4.1% year-to-date.
Over the past three months, NiSource's consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 47.6% so far this year, meaning that MYRG is performing on par in terms of year-to-date returns.
In contrast, NiSource falls under the Utility - Electric Power industry. Currently, this industry has 58 stocks and is ranked #89. Since the beginning of the year, the industry has moved +0.5%.
Going forward, investors interested in Utilities stocks should continue to pay close attention to MYR Group and NiSource as they could maintain their solid performance.