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 our Construction group, which includes 101 different companies and currently sits at #1 in 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 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 2.29% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MTZ has returned about 76.65% since the start of the calendar year. At the same time, Construction stocks have gained an average of 38.18%. This means that MasTec is outperforming the sector as a whole this year.
Looking more specifically, MTZ belongs to the Building Products - Heavy Construction industry, which includes 13 individual stocks and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 30.34% so far this year, so MTZ is performing better this group in terms of year-to-date returns.
MTZ will likely be looking to continue its solid performance, so investors interested in Construction stocks should continue to pay close attention to the company.