Zacks: Analysts Anticipate Quanta Services Inc (NYSE:PWR) Will Announce Quarterly Sales of $2.76 Billion

Brokerages expect Quanta Services Inc (NYSE:PWR) to post sales of $2.76 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Quanta Services’ earnings, with the lowest sales estimate coming in at $2.70 billion and the highest estimate coming in at $2.83 billion. Quanta Services posted sales of $2.81 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The firm is scheduled to announce its next earnings results on Thursday, May 7th.

On average, analysts expect that Quanta Services will report full year sales of $12.39 billion for the current financial year, with estimates ranging from $12.06 billion to $12.53 billion. For the next financial year, analysts anticipate that the firm will post sales of $12.89 billion, with estimates ranging from $12.29 billion to $13.09 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quanta Services.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.10. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.03 billion. Quanta Services had a net margin of 3.32% and a return on equity of 11.66%. Quanta Services’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS.

Several analysts have recently issued reports on PWR shares. KeyCorp reduced their target price on shares of Quanta Services from $49.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating and set a $41.00 target price for the company. in a research note on Monday, February 3rd. DA Davidson upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, December 20th. Robert W. Baird upgraded shares of Quanta Services from a “neutral” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, January 7th. Finally, ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Quanta Services has an average rating of “Buy” and a consensus target price of $45.11.

Shares of NYSE PWR traded up $1.08 during trading on Monday, hitting $31.49. The stock had a trading volume of 1,973,367 shares, compared to its average volume of 1,733,852. Quanta Services has a 12 month low of $23.77 and a 12 month high of $44.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.69 and a quick ratio of 1.67. The company has a market capitalization of $3.93 billion, a PE ratio of 11.53, a PEG ratio of 0.54 and a beta of 1.11. The firm has a fifty day moving average of $35.91 and a two-hundred day moving average of $39.14.

In other news, EVP Donald Wayne sold 5,345 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $39.38, for a total value of $210,486.10. Following the completion of the sale, the executive vice president now owns 69,592 shares in the company, valued at approximately $2,740,532.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Banco de Sabadell S.A lifted its holdings in Quanta Services by 60.2% during the third quarter. Banco de Sabadell S.A now owns 127,271 shares of the construction company’s stock valued at $4,802,000 after purchasing an additional 47,825 shares during the last quarter. Keeley Teton Advisors LLC lifted its holdings in Quanta Services by 34.7% during the third quarter. Keeley Teton Advisors LLC now owns 67,453 shares of the construction company’s stock valued at $2,550,000 after purchasing an additional 17,385 shares during the last quarter. Stifel Financial Corp lifted its holdings in Quanta Services by 21.2% during the third quarter. Stifel Financial Corp now owns 229,553 shares of the construction company’s stock valued at $8,697,000 after purchasing an additional 40,142 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Quanta Services by 39.3% during the fourth quarter. AE Wealth Management LLC now owns 37,284 shares of the construction company’s stock valued at $1,518,000 after purchasing an additional 10,513 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its holdings in Quanta Services by 2.0% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 231,315 shares of the construction company’s stock valued at $9,417,000 after purchasing an additional 4,550 shares during the last quarter. 92.24% of the stock is currently owned by institutional investors.

About Quanta Services

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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