$2.76 Billion in Sales Expected for Quanta Services Inc (NYSE:PWR) This Quarter

Analysts predict that Quanta Services Inc (NYSE:PWR) will announce $2.76 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Quanta Services’ earnings. The highest sales estimate is $2.83 billion and the lowest is $2.70 billion. Quanta Services posted sales of $2.81 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, May 7th.

According to Zacks, analysts expect that Quanta Services will report full year sales of $12.39 billion for the current financial year, with estimates ranging from $12.06 billion to $12.53 billion. For the next fiscal year, analysts anticipate that the company will report sales of $12.89 billion, with estimates ranging from $12.29 billion to $13.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Quanta Services.

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

A number of research analysts have recently weighed in on PWR shares. B. Riley lowered their price objective on Quanta Services from $51.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating and set a $41.00 price objective on the stock. in a research report on Monday, February 3rd. KeyCorp lowered their price objective on Quanta Services from $49.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Robert W. Baird raised 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. 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 Quanta Services stock in a transaction dated Thursday, March 5th. The stock was 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 of the company’s stock, valued at approximately $2,740,532.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in Quanta Services by 2.7% in the 4th quarter. State Street Corp now owns 4,686,679 shares of the construction company’s stock worth $191,028,000 after purchasing an additional 122,572 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Quanta Services by 4.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,160,603 shares of the construction company’s stock worth $169,379,000 after purchasing an additional 160,464 shares in the last quarter. Lyrical Asset Management LP lifted its holdings in Quanta Services by 1.0% in the 4th quarter. Lyrical Asset Management LP now owns 4,040,594 shares of the construction company’s stock worth $164,493,000 after purchasing an additional 41,038 shares in the last quarter. Voya Investment Management LLC lifted its holdings in 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 worth $147,554,000 after purchasing an additional 621,357 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Quanta Services by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,247,352 shares of the construction company’s stock worth $91,363,000 after purchasing an additional 6,949 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors.

Shares of Quanta Services stock traded up $1.08 during trading hours on Monday, reaching $31.49. 1,973,367 shares of the stock traded hands, compared to its average volume of 1,733,852. Quanta Services has a one year low of $23.77 and a one year high of $44.09. The company has a quick ratio of 1.67, a current ratio of 1.69 and a debt-to-equity ratio of 0.37. The firm 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 has a 50 day moving average price of $35.91 and a 200 day moving average price of $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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