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Is MYR Group (MYRG) Stock Outpacing Its Utilities Peers This Year?

Zacks Equity Research
·2 min read

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has MYR Group (MYRG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

MYR Group is a member of the Utilities sector. This group includes 112 individual stocks and currently holds a Zacks Sector Rank of #11. 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. MYR Group is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MYRG's full-year earnings has moved 9.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that MYRG has returned about 93.8% since the start of the calendar year. At the same time, Utilities stocks have gained an average of 6.4%. This means that MYR Group is performing better than its sector in terms of year-to-date returns.

Another Utilities stock, which has outperformed the sector so far this year, is Otter Tail (OTTR). The stock has returned 58.3% year-to-date.

In Otter Tail's case, the consensus EPS estimate for the current year increased 16.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, MYR Group is a member of the Electric Construction industry, which includes 2 individual companies and currently sits at #8 in the Zacks Industry Rank. This group has gained an average of 93.8% so far this year, so MYRG is performing on par in this area.

On the other hand, Otter Tail belongs to the Utility - Electric Power industry. This 62-stock industry is currently ranked #155. The industry has moved +6.4% year to date.

Investors with an interest in Utilities stocks should continue to track MYR Group and Otter Tail. These stocks will be looking to continue their solid performance.


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MYR Group, Inc. (MYRG) : Free Stock Analysis Report
 
Otter Tail Corporation (OTTR) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.