Analysts expect Quanta Services Inc (NYSE:PWR) to announce sales of $2.34 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Quanta Services’ earnings, with estimates ranging from $2.30 billion to $2.44 billion. Quanta Services reported sales of $2.10 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Quanta Services will report full-year sales of $2.34 billion for the current fiscal year, with estimates ranging from $9.29 billion to $9.43 billion. For the next financial year, analysts anticipate that the company will report sales of $10.04 billion per share, with estimates ranging from $9.87 billion to $10.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Quanta Services.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, February 9th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a research report on Friday, January 26th. KeyCorp reiterated a “buy” rating and set a $46.00 price target on shares of Quanta Services in a research report on Wednesday, November 29th. Stephens reiterated a “buy” rating and set a $49.00 price target on shares of Quanta Services in a research report on Wednesday, January 31st. Finally, Robert W. Baird boosted their price target on shares of Quanta Services from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.33.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Halsey Associates Inc. CT grew its holdings in Quanta Services by 4.7% in the fourth quarter. Halsey Associates Inc. CT now owns 410,816 shares of the construction company’s stock worth $16,067,000 after purchasing an additional 18,421 shares during the period. Pier Capital LLC grew its holdings in Quanta Services by 21.5% in the fourth quarter. Pier Capital LLC now owns 186,637 shares of the construction company’s stock worth $7,299,000 after purchasing an additional 33,030 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Quanta Services in the fourth quarter worth about $14,666,000. MetLife Investment Advisors LLC purchased a new stake in Quanta Services in the fourth quarter worth about $1,872,000. Finally, Cowen Inc. purchased a new stake in Quanta Services in the fourth quarter worth about $274,000. Institutional investors and hedge funds own 85.66% of the company’s stock.
Shares of Quanta Services (NYSE PWR) traded up $0.24 during midday trading on Wednesday, hitting $35.07. 1,102,932 shares of the company traded hands, compared to its average volume of 1,510,000. Quanta Services has a one year low of $30.23 and a one year high of $40.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The stock has a market capitalization of $5,430.00, a PE ratio of 18.96, a P/E/G ratio of 1.79 and a beta of 0.79.
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About Quanta Services
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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