Investors focused on the Oils-Energy space have likely heard of McDermott International (MDR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
McDermott International is one of 331 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MDR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MDR's full-year earnings has moved 6.52% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MDR has gained about 6.07% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 5.24% on average. As we can see, McDermott International is performing better than its sector in the calendar year.
Breaking things down more, MDR is a member of the Oil and Gas - Mechanical and and Equitment industry, which includes 15 individual companies and currently sits at #175 in the Zacks Industry Rank. On average, this group has gained an average of 7.71% so far this year, meaning that MDR is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to MDR as it looks to continue its solid performance.