Brokerages expect Quanta Services Inc (NYSE:PWR) to post earnings of $0.32 per share for the current quarter, Zacks reports. Six analysts have provided estimates for Quanta Services’ earnings. The highest EPS estimate is $0.40 and the lowest is $0.28. Quanta Services reported earnings per share of $0.39 in the same quarter last year, which indicates a negative year over year growth rate of 17.9%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Quanta Services will report full year earnings of $2.65 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.73. For the next fiscal year, analysts forecast that the business will post earnings of $3.10 per share, with EPS estimates ranging from $2.85 to $3.33. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Quanta Services.
Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis.
Several analysts have recently commented on PWR shares. Stifel Nicolaus reissued a “buy” rating on shares of Quanta Services in a research note on Thursday, December 14th. Robert W. Baird set a $42.00 price objective on shares of Quanta Services and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Stephens restated a “buy” rating and set a $49.00 price objective on shares of Quanta Services in a report on Wednesday, January 31st. Finally, Citigroup raised their price objective on shares of Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.15.
Shares of Quanta Services stock opened at $33.72 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.18. The stock has a market cap of $5,319.57, a price-to-earnings ratio of 19.33, a PEG ratio of 1.79 and a beta of 0.86. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new position in Quanta Services during the fourth quarter valued at about $488,000. Halsey Associates Inc. CT boosted its position in shares of Quanta Services by 4.7% in the fourth quarter. Halsey Associates Inc. CT now owns 410,816 shares of the construction company’s stock valued at $16,067,000 after acquiring an additional 18,421 shares during the period. Pier Capital LLC boosted its position in shares of Quanta Services by 21.5% in the fourth quarter. Pier Capital LLC now owns 186,637 shares of the construction company’s stock valued at $7,299,000 after acquiring an additional 33,030 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Quanta Services in the fourth quarter valued at approximately $14,666,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Quanta Services in the fourth quarter valued at approximately $1,872,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
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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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