Quanta Services, Inc. (PWR) Expected to Announce Quarterly Sales of $2.31 Billion

Equities research analysts predict that Quanta Services, Inc. (NYSE:PWR) will report $2.31 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Quanta Services’ earnings, with the highest sales estimate coming in at $2.44 billion and the lowest estimate coming in at $2.11 billion. Quanta Services posted sales of $2.10 billion in the same quarter last year, which would indicate a positive year over year growth rate of 10%. The company is scheduled to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Quanta Services will report full-year sales of $2.31 billion for the current fiscal year, with estimates ranging from $8.85 billion to $9.43 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.97 billion per share, with estimates ranging from $9.67 billion to $10.29 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Quanta Services.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS.

A number of brokerages recently commented on PWR. B. Riley increased their price objective on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. KeyCorp reissued a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research note on Friday, November 3rd. Citigroup raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research note on Thursday, September 7th. Finally, BidaskClub cut shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Quanta Services has an average rating of “Buy” and an average price target of $44.64.

Several institutional investors have recently added to or reduced their stakes in PWR. US Bancorp DE boosted its stake in shares of Quanta Services by 4.2% during the 2nd quarter. US Bancorp DE now owns 7,641 shares of the construction company’s stock worth $252,000 after purchasing an additional 307 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Quanta Services by 0.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 31,071 shares of the construction company’s stock worth $1,023,000 after purchasing an additional 87 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Quanta Services by 40.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 24,940 shares of the construction company’s stock worth $821,000 after purchasing an additional 7,130 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Quanta Services by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 13,120 shares of the construction company’s stock worth $432,000 after purchasing an additional 53 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Quanta Services by 22.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors.

Quanta Services (NYSE:PWR) opened at $38.45 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5,950.00, a PE ratio of 20.11, a PEG ratio of 2.71 and a beta of 0.86. Quanta Services has a twelve month low of $30.23 and a twelve month high of $39.20.

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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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