Zacks: Brokerages Anticipate Quanta Services Inc (NYSE:PWR) Will Announce Earnings of $0.84 Per Share

Equities analysts expect Quanta Services Inc (NYSE:PWR) to post earnings of $0.84 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Quanta Services’ earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.87. Quanta Services reported earnings per share of $0.59 in the same quarter last year, which indicates a positive year over year growth rate of 42.4%. The company is expected to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Quanta Services will report full year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.72. For the next fiscal year, analysts forecast that the business will report earnings of $3.73 per share, with EPS estimates ranging from $3.57 to $3.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Quanta Services.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.13. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.65 billion. Quanta Services had a net margin of 3.25% and a return on equity of 12.71%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share.

PWR has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of Heartland Banccorp in a research note on Tuesday, April 16th. They set a “buy” rating and a $96.00 target price for the company. Citigroup set a $47.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.80.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Quanta Services by 14.7% in the fourth quarter. Millennium Management LLC now owns 2,977,495 shares of the construction company’s stock valued at $89,623,000 after acquiring an additional 380,948 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in shares of Quanta Services by 2.1% in the first quarter. Greenhaven Associates Inc. now owns 2,786,550 shares of the construction company’s stock valued at $105,164,000 after buying an additional 56,000 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Quanta Services by 8.2% in the first quarter. Jennison Associates LLC now owns 2,209,785 shares of the construction company’s stock valued at $83,397,000 after buying an additional 166,566 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Quanta Services by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock worth $62,379,000 after acquiring an additional 105,481 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Quanta Services by 30.4% during the first quarter. Neuberger Berman Group LLC now owns 1,676,383 shares of the construction company’s stock worth $63,267,000 after acquiring an additional 390,856 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PWR traded down $0.10 during trading on Monday, hitting $37.84. The company’s stock had a trading volume of 508,832 shares, compared to its average volume of 1,024,702. The firm’s 50 day simple moving average is $37.78. The stock has a market cap of $5.38 billion, a P/E ratio of 14.96 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 1.95. Quanta Services has a fifty-two week low of $27.90 and a fifty-two week high of $41.00.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Quanta Services’s dividend payout ratio (DPR) is presently 6.32%.

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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