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Investors focused on the Utilities space have likely heard of MYR Group (MYRG), 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 Utilities sector should help us answer this question.
MYR Group is a member of our Utilities group, which includes 110 different companies and currently sits at #15 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. MYRG is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MYRG's full-year earnings has moved 20.08% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MYRG has returned about 55.01% since the start of the calendar year. Meanwhile, stocks in the Utilities group have gained about 4.18% on average. This means that MYR Group is performing better than its sector in terms of year-to-date returns.
To break things down more, MYRG belongs to the Electric Construction industry, a group that includes 1 individual companies and currently sits at #7 in the Zacks Industry Rank. Stocks in this group have gained about 55.01% so far this year, so MYRG is performing on par this group in terms of year-to-date returns.
Investors with an interest in Utilities stocks should continue to track MYRG. The stock will be looking to continue its solid performance.
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