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Is MYR Group (MYRG) Stock Outpacing Its Utilities Peers This Year?
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The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MYR Group (MYRG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
MYR Group is a member of our Utilities group, which includes 111 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for MYRG's full-year earnings has moved 27.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MYRG has returned 112% so far this year. Meanwhile, the Utilities sector has returned an average of 6% on a year-to-date basis. This means that MYR Group is performing better than its sector in terms of year-to-date returns.
Another Utilities stock, which has outperformed the sector so far this year, is NextEra Energy (NEE - Free Report) . The stock has returned 7.6% year-to-date.
The consensus estimate for NextEra Energy's current year EPS has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, MYR Group belongs to the Electric Construction industry, a group that includes 2 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, stocks in this group have lost 63.6% this year, meaning that MYRG is performing better in terms of year-to-date returns.
On the other hand, NextEra Energy belongs to the Utility - Electric Power industry. This 63-stock industry is currently ranked #107. The industry has moved +7.5% year to date.
MYR Group and NextEra Energy could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Is MYR Group (MYRG) Stock Outpacing Its Utilities Peers This Year?
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MYR Group (MYRG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
MYR Group is a member of our Utilities group, which includes 111 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for MYRG's full-year earnings has moved 27.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MYRG has returned 112% so far this year. Meanwhile, the Utilities sector has returned an average of 6% on a year-to-date basis. This means that MYR Group is performing better than its sector in terms of year-to-date returns.
Another Utilities stock, which has outperformed the sector so far this year, is NextEra Energy (NEE - Free Report) . The stock has returned 7.6% year-to-date.
The consensus estimate for NextEra Energy's current year EPS has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, MYR Group belongs to the Electric Construction industry, a group that includes 2 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, stocks in this group have lost 63.6% this year, meaning that MYRG is performing better in terms of year-to-date returns.
On the other hand, NextEra Energy belongs to the Utility - Electric Power industry. This 63-stock industry is currently ranked #107. The industry has moved +7.5% year to date.
MYR Group and NextEra Energy could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.