Investors focused on the Construction space have likely heard of MasTec (MTZ - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
MasTec is a member of the Construction sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #1. 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. MTZ is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MTZ's full-year earnings has moved 14.24% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MTZ has returned 3.06% so far this year. Meanwhile, stocks in the Construction group have lost about 8.86% on average. This shows that MasTec is outperforming its peers so far this year.
To break things down more, MTZ belongs to the Building Products - Heavy Construction industry, a group that includes 11 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, this group has lost an average of 4.53% so far this year, meaning that MTZ is performing better in terms of year-to-date returns.
MTZ will likely be looking to continue its solid performance, so investors interested Construction stocks should continue to pay close attention to the company.