Analysts forecast that Quanta Services Inc (NYSE:PWR) will announce earnings per share (EPS) of $0.32 for the current quarter, according to Zacks. Six analysts have issued estimates for Quanta Services’ earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.40. Quanta Services reported earnings of $0.39 per share during the same quarter last year, which would indicate a negative year over year growth rate of 17.9%. The business is expected to announce its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, 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 financial year, analysts expect that the company will report earnings of $3.10 per share, with EPS estimates ranging from $2.85 to $3.33. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Quanta Services.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.34 billion. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS.
A number of equities analysts have recently issued reports on PWR shares. B. Riley dropped their price target on Quanta Services from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Alembic Global Advisors set a $45.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Friday, February 23rd. DA Davidson restated a “buy” rating on shares of Quanta Services in a research note on Thursday, February 22nd. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, February 9th. Finally, Citigroup raised their price target on Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Quanta Services currently has an average rating of “Buy” and a consensus target price of $45.15.
PWR stock opened at $33.49 on Friday. The firm has a market capitalization of $5,198.11, a PE ratio of 18.81, a PEG ratio of 1.75 and a beta of 0.86. Quanta Services has a 1 year low of $30.23 and a 1 year high of $40.10. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.18.
A number of institutional investors have recently made changes to their positions in PWR. Tide Point Capital Management LP bought a new position in Quanta Services in the 4th quarter worth $43,316,000. Jennison Associates LLC raised its holdings in Quanta Services by 39.9% during the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after acquiring an additional 966,316 shares during the period. Caxton Associates LP raised its holdings in Quanta Services by 1,325.4% during the fourth quarter. Caxton Associates LP now owns 926,529 shares of the construction company’s stock valued at $36,237,000 after acquiring an additional 861,529 shares during the period. Victory Capital Management Inc. raised its holdings in Quanta Services by 9.4% during the fourth quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock valued at $256,029,000 after acquiring an additional 562,296 shares during the period. Finally, Luminus Management LLC raised its holdings in Quanta Services by 52.1% during the fourth quarter. Luminus Management LLC now owns 1,235,700 shares of the construction company’s stock valued at $48,329,000 after acquiring an additional 423,221 shares during the period. 86.24% of the stock is currently owned by institutional investors.
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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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