The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has MYR Group (MYRG) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
MYR Group is one of 111 companies in the Utilities group. The Utilities group currently sits at #15 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. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 13.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MYRG has returned 55.8% so far this year. Meanwhile, stocks in the Utilities group have gained about 4.2% on average. As we can see, MYR Group is performing better than its sector in the calendar year.
One other Utilities stock that has outperformed the sector so far this year is Shenandoah Telecommunications (SHEN). The stock is up 15.9% year-to-date.
The consensus estimate for Shenandoah Telecommunications' current year EPS has increased 21.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 2 individual stocks and currently sits at #8 in the Zacks Industry Rank. On average, this group has lost an average of 70.9% so far this year, meaning that MYRG is performing better in terms of year-to-date returns.
On the other hand, Shenandoah Telecommunications belongs to the Diversified Communication Services industry. This 18-stock industry is currently ranked #227. The industry has moved -9.8% year to date.
Going forward, investors interested in Utilities stocks should continue to pay close attention to MYR Group and Shenandoah Telecommunications as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).