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? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
MasTec is a member of the Construction sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #8. 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. MTZ is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MTZ's full-year earnings has moved 5.66% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MTZ has returned about 11.34% since the start of the calendar year. At the same time, Construction stocks have lost an average of 6.08%. This means that MasTec is outperforming the sector as a whole 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 #105 in the Zacks Industry Rank. On average, stocks in this group have lost 2.38% this year, meaning that MTZ is performing better in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to MTZ as it looks to continue its solid performance.