Has MasTec (MTZ) Outpaced Other Construction Stocks This Year?
Investors focused on the Construction space have likely heard of MasTec (MTZ), 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 Construction sector should help us answer this question.
MasTec is a member of the Construction sector. This group includes 101 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. MTZ is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MTZ's full-year earnings has moved 11.26% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MTZ has returned about 67.28% since the start of the calendar year. In comparison, Construction companies have returned an average of 38.12%. This means that MasTec is performing better than its sector in terms of year-to-date returns.
To break things down more, MTZ belongs to the Building Products - Heavy Construction industry, a group that includes 13 individual companies and currently sits at #25 in the Zacks Industry Rank. On average, this group has gained an average of 30.34% so far this year, meaning that MTZ is performing better in terms of year-to-date returns.
MTZ will likely be looking to continue its solid performance, so investors interested in Construction stocks should continue to pay close attention to the company.
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