Equities research analysts predict that Quanta Services, Inc. (NYSE:PWR) will announce earnings of $0.59 per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Quanta Services’ earnings. The lowest EPS estimate is $0.50 and the highest is $0.65. Quanta Services posted earnings of $0.55 per share during the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Quanta Services will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.04. For the next year, analysts forecast that the company will report earnings of $2.46 per share, with EPS estimates ranging from $2.30 to $2.73. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Quanta Services.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $0.18 EPS. The company’s revenue was up 22.8% on a year-over-year basis.
Several research analysts have recently commented on PWR shares. BidaskClub lowered Quanta Services from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Robert W. Baird reiterated a “hold” rating and set a $39.00 price target on shares of Quanta Services in a report on Friday. TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a report on Friday, July 7th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday, August 4th. Finally, Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Quanta Services has a consensus rating of “Hold” and an average target price of $41.56.
In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the completion of the sale, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total value of $138,040.00. Following the sale, the director now directly owns 7,506 shares of the company’s stock, valued at $259,032.06. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $597,550 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Fulton Bank N.A. acquired a new stake in shares of Quanta Services during the 3rd quarter worth about $278,000. Centre Asset Management LLC increased its position in shares of Quanta Services by 4.3% during the 3rd quarter. Centre Asset Management LLC now owns 239,130 shares of the construction company’s stock worth $8,936,000 after purchasing an additional 9,780 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in shares of Quanta Services by 6.2% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 267,334 shares of the construction company’s stock worth $9,990,000 after purchasing an additional 15,575 shares during the last quarter. Navellier & Associates Inc increased its position in shares of Quanta Services by 5.2% during the 2nd quarter. Navellier & Associates Inc now owns 153,450 shares of the construction company’s stock worth $5,052,000 after purchasing an additional 7,646 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Quanta Services by 23.5% during the 2nd quarter. Toronto Dominion Bank now owns 48,354 shares of the construction company’s stock worth $1,592,000 after purchasing an additional 9,198 shares during the last quarter. 88.53% of the stock is owned by hedge funds and other institutional investors.
Quanta Services (PWR) opened at 37.37 on Tuesday. The firm’s 50-day moving average is $36.28 and its 200-day moving average is $34.43. Quanta Services has a 52-week low of $27.29 and a 52-week high of $38.82. The company has a market cap of $5.80 billion, a PE ratio of 21.25 and a beta of 0.83.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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