Zacks: Analysts Anticipate Quanta Services Inc (NYSE:PWR) to Post $1.03 EPS

Analysts expect Quanta Services Inc (NYSE:PWR) to report $1.03 earnings per share for the current quarter, Zacks reports. Six analysts have provided estimates for Quanta Services’ earnings, with the highest EPS estimate coming in at $1.09 and the lowest estimate coming in at $0.98. Quanta Services reported earnings per share of $0.88 in the same quarter last year, which suggests a positive year over year growth rate of 17%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Quanta Services will report full year earnings of $3.37 per share for the current financial year, with EPS estimates ranging from $3.04 to $3.65. For the next financial year, analysts forecast that the company will report earnings of $3.73 per share, with EPS estimates ranging from $3.57 to $3.85. Zacks’ EPS calculations are an average based on a survey of research firms that follow Quanta Services.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.45). The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share.

PWR has been the topic of several research reports. DA Davidson cut Quanta Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Citigroup raised their target price on Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Quanta Services presently has an average rating of “Hold” and an average price target of $43.00.

NYSE:PWR traded up $0.65 on Tuesday, hitting $34.31. The stock had a trading volume of 2,037,779 shares, compared to its average volume of 1,403,436. The stock has a market cap of $4.79 billion, a PE ratio of 13.56 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. The business has a 50-day moving average price of $37.32. Quanta Services has a 52-week low of $27.90 and a 52-week high of $41.00.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Friday, June 28th. Quanta Services’s dividend payout ratio (DPR) is currently 6.32%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Quanta Services in the second quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Quanta Services by 65.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock worth $50,000 after buying an additional 520 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Quanta Services by 2,541.8% in the first quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after buying an additional 1,398 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Quanta Services in the second quarter worth about $59,000. Finally, Wakefield Asset Management LLLP bought a new stake in Quanta Services during the 1st quarter valued at approximately $62,000. 87.85% of the stock is currently owned by hedge funds and other 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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