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Is Comp En De Mn Cemig (CIG) Stock Outpacing Its Utilities Peers This Year?
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For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Cemig (CIG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
Cemig is one of 105 individual stocks in the Utilities sector. Collectively, these companies sit at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cemig is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CIG's full-year earnings has moved 61.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CIG has gained about 17.7% so far this year. Meanwhile, stocks in the Utilities group have gained about 16.8% on average. This means that Cemig is performing better than its sector in terms of year-to-date returns.
Pinnacle West (PNW - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.1%.
Over the past three months, Pinnacle West's consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cemig belongs to the Utility - Electric Power industry, a group that includes 59 individual stocks and currently sits at #42 in the Zacks Industry Rank. This group has gained an average of 20.7% so far this year, so CIG is slightly underperforming its industry in this area. Pinnacle West is also part of the same industry.
Cemig and Pinnacle West could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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Is Comp En De Mn Cemig (CIG) Stock Outpacing Its Utilities Peers This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Cemig (CIG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
Cemig is one of 105 individual stocks in the Utilities sector. Collectively, these companies sit at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cemig is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CIG's full-year earnings has moved 61.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CIG has gained about 17.7% so far this year. Meanwhile, stocks in the Utilities group have gained about 16.8% on average. This means that Cemig is performing better than its sector in terms of year-to-date returns.
Pinnacle West (PNW - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.1%.
Over the past three months, Pinnacle West's consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cemig belongs to the Utility - Electric Power industry, a group that includes 59 individual stocks and currently sits at #42 in the Zacks Industry Rank. This group has gained an average of 20.7% so far this year, so CIG is slightly underperforming its industry in this area. Pinnacle West is also part of the same industry.
Cemig and Pinnacle West could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.