Is MasTec (MTZ) Outperforming Other Construction Stocks This Year?
For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MasTec (MTZ) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
MasTec is a member of our Construction group, which includes 99 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MTZ is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MTZ's full-year earnings has moved 11.25% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MTZ has returned about 50.72% since the start of the calendar year. In comparison, Construction companies have returned an average of 25.86%. This means that MasTec is outperforming the sector as a whole this year.
To break things down more, MTZ belongs to the Building Products - Heavy Construction industry, a group that includes 12 individual companies and currently sits at #111 in the Zacks Industry Rank. This group has gained an average of 16.46% so far this year, so MTZ is performing better in this area.
Investors with an interest in Construction stocks should continue to track MTZ. The stock will be looking to continue its solid performance.
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