Zacks: Brokerages Anticipate Quanta Services Inc (NYSE:PWR) to Post $0.50 Earnings Per Share

Wall Street analysts predict that Quanta Services Inc (NYSE:PWR) will report earnings of $0.50 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Quanta Services’ earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.59. Quanta Services posted earnings per share of $0.96 in the same quarter last year, which would indicate a negative year over year growth rate of 47.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, May 7th.

On average, analysts expect that Quanta Services will report full year earnings of $3.79 per share for the current year, with EPS estimates ranging from $3.66 to $3.86. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.19 per share, with EPS estimates ranging from $3.85 to $4.37. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Quanta Services.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. Quanta Services had a net margin of 3.32% and a return on equity of 11.66%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the company posted $0.96 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year.

Several equities analysts have weighed in on PWR shares. DA Davidson upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, December 20th. ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Robert W. Baird upgraded shares of Quanta Services from a “neutral” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, January 7th. B. Riley lowered their price objective on shares of Quanta Services from $51.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Stephens lifted their price objective on shares of Quanta Services from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.11.

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

Several institutional investors have recently bought and sold shares of PWR. Cetera Advisor Networks LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at $228,000. Voya Investment Management LLC lifted its stake in shares of Quanta Services by 18.9% in the 3rd quarter. Voya Investment Management LLC now owns 3,903,573 shares of the construction company’s stock valued at $147,554,000 after purchasing an additional 621,357 shares during the last quarter. Neo Ivy Capital Management lifted its stake in shares of Quanta Services by 83.9% in the 3rd quarter. Neo Ivy Capital Management now owns 19,995 shares of the construction company’s stock valued at $678,000 after purchasing an additional 9,122 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Quanta Services by 21.2% in the 3rd 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. Finally, California State Teachers Retirement System lifted its stake in shares of Quanta Services by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 234,608 shares of the construction company’s stock valued at $8,868,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.

NYSE PWR traded up $1.08 on Friday, hitting $31.49. 1,973,367 shares of the stock were exchanged, compared to its average volume of 1,733,852. Quanta Services has a 52-week low of $23.77 and a 52-week 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 price-to-earnings ratio of 11.53, a P/E/G ratio of 0.54 and a beta of 1.11. The company’s 50-day moving average price is $35.91 and its two-hundred day moving average price is $39.14.

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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