The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Centrica PLC (CPYYY) been one of those stocks this year? 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.
Centrica PLC is a member of the Utilities sector. This group includes 110 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Centrica PLC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CPYYY's full-year earnings has moved 19.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CPYYY has moved about 26.1% on a year-to-date basis. In comparison, Utilities companies have returned an average of 10%. This shows that Centrica PLC is outperforming its peers so far this year.
Another stock in the Utilities sector, MYR Group (MYRG), has outperformed the sector so far this year. The stock's year-to-date return is 55.3%.
In MYR Group's case, the consensus EPS estimate for the current year increased 11% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Centrica PLC is a member of the Utility - Gas Distribution industry, which includes 13 individual companies and currently sits at #58 in the Zacks Industry Rank. This group has gained an average of 8.6% so far this year, so CPYYY is performing better in this area.
In contrast, MYR Group falls under the Electric Construction industry. Currently, this industry has 2 stocks and is ranked #7. Since the beginning of the year, the industry has moved -66.9%.
Investors with an interest in Utilities stocks should continue to track Centrica PLC and MYR Group. These stocks will be looking to continue their solid performance.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Centrica PLC (CPYYY): Free Stock Analysis Report
MYR Group, Inc. (MYRG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).