Quanta Services (PWR) Issues FY18 Earnings Guidance

Quanta Services (NYSE:PWR) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.74. The company issued revenue guidance of $10.95-11.05 billion, compared to the consensus revenue estimate of $10.59 billion.

PWR traded up $0.95 during trading on Friday, hitting $34.38. The stock had a trading volume of 2,782,103 shares, compared to its average volume of 1,402,882. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. Quanta Services has a twelve month low of $30.25 and a twelve month high of $40.10. The company has a quick ratio of 1.77, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 1st. The construction company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.09). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.93 billion. Quanta Services had a net margin of 3.10% and a return on equity of 7.72%. Quanta Services’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. On average, sell-side analysts expect that Quanta Services will post 2.52 EPS for the current year.

Quanta Services announced that its Board of Directors has authorized a stock buyback plan on Tuesday, September 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

PWR has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Quanta Services from a sell rating to a hold rating in a report on Friday, September 7th. Cfra reaffirmed a buy rating and issued a $40.00 price target on shares of Quanta Services in a report on Thursday, September 6th. ValuEngine cut shares of Quanta Services from a hold rating to a sell rating in a report on Wednesday, August 8th. B. Riley raised their price target on shares of Quanta Services from $52.00 to $53.00 and gave the stock a buy rating in a report on Monday, August 6th. Finally, Robert W. Baird decreased their price target on shares of Quanta Services from $41.00 to $39.00 and set a neutral rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $44.80.

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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