November 10, 2019 at 9:17 pm

Quanta Services Inc (NYSE:PWR) Expected to Post Earnings of $0.84 Per Share

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Wall Street analysts forecast that Quanta Services Inc (NYSE:PWR) will announce $0.84 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Quanta Services’ earnings, with estimates ranging from $0.82 to $0.85. Quanta Services reported earnings per share of $0.96 during the same quarter last year, which indicates a negative year-over-year growth rate of 12.5%. The business is scheduled to issue its next earnings report on Thursday, February 20th.

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According to Zacks, analysts expect that Quanta Services will report full year earnings of $3.23 per share for the current financial year, with EPS estimates ranging from $3.14 to $3.29. For the next fiscal year, analysts anticipate that the business will post earnings of $3.89 per share, with EPS estimates ranging from $3.60 to $4.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Quanta Services.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.17. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.17 billion. Quanta Services had a net margin of 2.81% and a return on equity of 12.17%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 EPS.

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Quanta Services from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Vertical Research assumed coverage on shares of Quanta Services in a research note on Friday, August 23rd. They issued a “buy” rating and a $41.00 price objective for the company. DA Davidson lifted their price objective on shares of Quanta Services from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Stephens set a $42.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.86.

In other Quanta Services news, CAO Jerry K. Lemon sold 2,750 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.70, for a total transaction of $120,175.00. Following the completion of the sale, the chief accounting officer now owns 10,277 shares in the company, valued at approximately $449,104.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dorothy Upperman sold 5,764 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $43.86, for a total transaction of $252,809.04. Following the sale, the vice president now owns 13,134 shares of the company’s stock, valued at approximately $576,057.24. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PWR. BlackRock Inc. increased its stake in Quanta Services by 23.9% during the 2nd quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after purchasing an additional 2,091,884 shares in the last quarter. Rothschild & Co. Asset Management US Inc. bought a new stake in shares of Quanta Services in the 2nd quarter worth $67,213,000. Nuveen Asset Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter worth $41,035,000. Prudential Financial Inc. grew its stake in shares of Quanta Services by 122.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,445,442 shares of the construction company’s stock worth $55,201,000 after acquiring an additional 796,195 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Quanta Services by 38.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,862,024 shares of the construction company’s stock worth $71,111,000 after acquiring an additional 512,376 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

Shares of NYSE:PWR traded down $0.21 during mid-day trading on Tuesday, hitting $42.93. The company had a trading volume of 736,882 shares, compared to its average volume of 1,400,938. The firm has a fifty day moving average price of $39.60 and a 200 day moving average price of $37.35. The company has a market capitalization of $6.23 billion, a PE ratio of 16.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.82 and a quick ratio of 1.80. Quanta Services has a one year low of $27.90 and a one year high of $44.09.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. Quanta Services’s dividend payout ratio is currently 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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