Wall Street brokerages expect Quanta Services Inc (NYSE:PWR) to announce sales of $3.15 billion for the current quarter, according to Zacks. Six analysts have provided estimates for Quanta Services’ earnings, with the highest sales estimate coming in at $3.22 billion and the lowest estimate coming in at $3.08 billion. Quanta Services reported sales of $2.99 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The business is scheduled to report its next earnings results on Thursday, November 7th.
On average, analysts expect that Quanta Services will report full year sales of $11.65 billion for the current fiscal year, with estimates ranging from $11.57 billion to $11.72 billion. For the next financial year, analysts expect that the firm will report sales of $12.13 billion, with estimates ranging from $11.97 billion to $12.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Quanta Services.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.45). The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.89 billion. Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS.
A number of research analysts have issued reports on PWR shares. ValuEngine downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup upped their target price on shares of Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Quanta Services has a consensus rating of “Hold” and an average price target of $43.00.
A number of hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC bought a new position in Quanta Services in the second quarter valued at about $41,035,000. Price T Rowe Associates Inc. MD grew its position in Quanta Services by 1.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 284,667 shares of the construction company’s stock valued at $10,871,000 after acquiring an additional 4,087 shares during the last quarter. Centaurus Financial Inc. grew its position in Quanta Services by 2,548.4% in the second quarter. Centaurus Financial Inc. now owns 3,231 shares of the construction company’s stock valued at $123,000 after acquiring an additional 3,109 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Quanta Services by 6.2% in the second quarter. UBS Asset Management Americas Inc. now owns 217,810 shares of the construction company’s stock valued at $8,318,000 after acquiring an additional 12,727 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Quanta Services in the second quarter valued at about $415,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
NYSE PWR traded up $0.05 on Thursday, hitting $32.46. 1,372,100 shares of the company were exchanged, compared to its average volume of 1,410,087. The firm has a 50 day moving average of $36.72 and a two-hundred day moving average of $37.04. The company has a market cap of $4.73 billion, a P/E ratio of 12.83 and a beta of 1.17. The company has a current ratio of 1.97, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. Quanta Services has a 1-year low of $27.90 and a 1-year high of $41.00.
Quanta Services Company Profile
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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