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Are Utilities Stocks Lagging Consolidated Edison (ED) This Year?
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Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Consolidated Edison (ED - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Consolidated Edison is one of 112 individual stocks in the Utilities sector. Collectively, these companies sit at #5 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Consolidated Edison is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ED's full-year earnings has moved 0% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ED has gained about 20.1% so far this year. At the same time, Utilities stocks have gained an average of 2.9%. This means that Consolidated Edison is performing better than its sector in terms of year-to-date returns.
One other Utilities stock that has outperformed the sector so far this year is MYR Group (MYRG - Free Report) . The stock is up 24.9% year-to-date.
In MYR Group's case, the consensus EPS estimate for the current year increased 9.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Consolidated Edison belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #78 in the Zacks Industry Rank. On average, this group has gained an average of 3.7% so far this year, meaning that ED is performing better in terms of year-to-date returns.
On the other hand, MYR Group belongs to the Electric Construction industry. This 2-stock industry is currently ranked #7. The industry has moved -79.4% year to date.
Consolidated Edison and MYR Group 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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Are Utilities Stocks Lagging Consolidated Edison (ED) This Year?
Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Consolidated Edison (ED - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Consolidated Edison is one of 112 individual stocks in the Utilities sector. Collectively, these companies sit at #5 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Consolidated Edison is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ED's full-year earnings has moved 0% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ED has gained about 20.1% so far this year. At the same time, Utilities stocks have gained an average of 2.9%. This means that Consolidated Edison is performing better than its sector in terms of year-to-date returns.
One other Utilities stock that has outperformed the sector so far this year is MYR Group (MYRG - Free Report) . The stock is up 24.9% year-to-date.
In MYR Group's case, the consensus EPS estimate for the current year increased 9.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Consolidated Edison belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #78 in the Zacks Industry Rank. On average, this group has gained an average of 3.7% so far this year, meaning that ED is performing better in terms of year-to-date returns.
On the other hand, MYR Group belongs to the Electric Construction industry. This 2-stock industry is currently ranked #7. The industry has moved -79.4% year to date.
Consolidated Edison and MYR Group could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.