Analysts expect Quanta Services Inc (NYSE:PWR) to post $2.60 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Quanta Services’ earnings, with estimates ranging from $2.54 billion to $2.64 billion. Quanta Services reported sales of $2.20 billion in the same quarter last year, which would suggest a positive year over year growth rate of 18.2%. The company is scheduled to announce its next earnings report on Thursday, August 2nd.
On average, analysts expect that Quanta Services will report full-year sales of $10.47 billion for the current year, with estimates ranging from $10.25 billion to $10.61 billion. For the next financial year, analysts anticipate that the business will post sales of $11.13 billion per share, with estimates ranging from $10.80 billion to $11.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Quanta Services.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. Quanta Services had a net margin of 3.14% and a return on equity of 7.57%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company posted $0.39 EPS. Quanta Services’s revenue was up 11.0% on a year-over-year basis.
Several research analysts recently weighed in on PWR shares. Alembic Global Advisors set a $45.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp restated an “overweight” rating and issued a $49.00 price objective (up previously from $46.00) on shares of Quanta Services in a research report on Friday, February 23rd. Credit Suisse Group restated an “outperform” rating and issued a $42.00 price objective (down previously from $46.00) on shares of Quanta Services in a research report on Friday, February 23rd. DA Davidson restated a “buy” rating on shares of Quanta Services in a research report on Thursday, February 22nd. Finally, B. Riley dropped their price objective on shares of Quanta Services from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, February 26th. One equities 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. Quanta Services currently has a consensus rating of “Buy” and an average price target of $45.23.
In other news, insider Jerry K. Lemon sold 2,000 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $36.91, for a total transaction of $73,820.00. Following the completion of the transaction, the insider now directly owns 11,812 shares in the company, valued at approximately $435,980.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.75% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in shares of Quanta Services by 34.4% during the 4th quarter. Macquarie Group Ltd. now owns 453,190 shares of the construction company’s stock worth $17,724,000 after buying an additional 116,079 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Quanta Services by 34.4% during the 4th quarter. BB&T Securities LLC now owns 28,417 shares of the construction company’s stock worth $1,111,000 after buying an additional 7,280 shares during the last quarter. Timber Hill LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $925,000. Ninepoint Partners LP boosted its stake in shares of Quanta Services by 42.0% during the 4th quarter. Ninepoint Partners LP now owns 16,900 shares of the construction company’s stock worth $661,000 after buying an additional 5,000 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Quanta Services by 0.3% during the 4th quarter. Deutsche Bank AG now owns 777,159 shares of the construction company’s stock worth $30,392,000 after buying an additional 2,254 shares during the last quarter. Institutional investors own 84.27% of the company’s stock.
Quanta Services traded down $0.32, hitting $35.60, during trading on Thursday, MarketBeat Ratings reports. The company had a trading volume of 1,772,809 shares, compared to its average volume of 990,061. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.91 and a quick ratio of 1.85. Quanta Services has a 12 month low of $31.08 and a 12 month high of $40.10. The stock has a market capitalization of $5.33 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89.
About Quanta Services
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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