Is Quanta Services (PWR) Outperforming Other Construction Stocks This Year?
Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Has Quanta Services (PWR) 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 Construction sector should help us answer this question.
Quanta Services is one of 95 individual stocks in the Construction sector. Collectively, these companies sit 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. PWR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for PWR's full-year earnings has moved 6.87% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PWR has gained about 24.22% so far this year. Meanwhile, the Construction sector has returned an average of 16.36% on a year-to-date basis. This means that Quanta Services is performing better than its sector in terms of year-to-date returns.
Breaking things down more, PWR is a member of the Engineering - R and D Services industry, which includes 16 individual companies and currently sits at #89 in the Zacks Industry Rank. On average, this group has gained an average of 22.71% so far this year, meaning that PWR is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on PWR as it attempts to continue its solid performance.
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