Zacks: Brokerages Expect Quanta Services, Inc. (NYSE:PWR) Will Post Earnings of $1.46 Per Share

Wall Street brokerages forecast that Quanta Services, Inc. (NYSE:PWR) will announce $1.46 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Quanta Services’ earnings. The highest EPS estimate is $1.53 and the lowest is $1.39. Quanta Services posted earnings per share of $1.40 during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The company is expected to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Quanta Services will report full-year earnings of $4.61 per share for the current financial year, with EPS estimates ranging from $4.53 to $4.68. For the next year, analysts anticipate that the business will post earnings of $5.43 per share, with EPS estimates ranging from $4.82 to $6.57. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Quanta Services.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 5th. The construction company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.94 billion. Quanta Services had a return on equity of 13.29% and a net margin of 4.64%.

Several research firms have recently weighed in on PWR. UBS Group lifted their price objective on Quanta Services from $122.00 to $139.00 and gave the company a “buy” rating in a report on Friday, September 24th. The Goldman Sachs Group assumed coverage on Quanta Services in a report on Friday, September 17th. They set a “buy” rating and a $138.00 target price on the stock. DA Davidson upped their price objective on Quanta Services from $95.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, September 3rd. They noted that the move was a valuation call. Piper Sandler upped their price objective on Quanta Services from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. Finally, Northland Securities upped their price objective on Quanta Services from $103.00 to $129.00 and gave the company an “outperform” rating in a report on Friday, September 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Buy” and an average price target of $116.46.

PWR stock traded up $2.21 during midday trading on Thursday, reaching $113.21. The stock had a trading volume of 21,643 shares, compared to its average volume of 1,118,310. The company has a quick ratio of 1.72, a current ratio of 1.75 and a debt-to-equity ratio of 0.30. Quanta Services has a twelve month low of $58.93 and a twelve month high of $119.70. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 30.02 and a beta of 1.25. The business has a fifty day simple moving average of $108.15 and a two-hundred day simple moving average of $97.87.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Quanta Services’s payout ratio is presently 7.23%.

In other Quanta Services news, Director Bernard Fried sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the director now owns 17,416 shares of the company’s stock, valued at approximately $2,016,598.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PWR. Trustcore Financial Services LLC acquired a new position in Quanta Services in the 2nd quarter worth about $25,000. First Horizon Advisors Inc. increased its stake in shares of Quanta Services by 126.6% in the second quarter. First Horizon Advisors Inc. now owns 358 shares of the construction company’s stock valued at $31,000 after buying an additional 200 shares during the period. West Oak Capital LLC acquired a new stake in shares of Quanta Services in the third quarter valued at about $34,000. Cypress Point Wealth Management LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $38,000. Finally, Selective Wealth Management Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at about $45,000. 88.07% of the stock is owned by institutional investors and hedge funds.

About Quanta Services

Quanta Services, Inc engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. The firm operates through the Electric Power Infrastructure Services, and Underground Utility and Infrastructure Solutions segment.

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