$2.60 Billion in Sales Expected for Quanta Services (PWR) This Quarter

Equities analysts expect that Quanta Services (NYSE:PWR) will report sales of $2.60 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Quanta Services’ earnings, with the highest sales estimate coming in at $2.64 billion and the lowest estimate coming in at $2.54 billion. Quanta Services posted sales of $2.20 billion during the same quarter last year, which suggests a positive year over year growth rate of 18.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that Quanta Services will report full year sales of $10.47 billion for the current fiscal year, with estimates ranging from $10.25 billion to $10.61 billion. For the next financial year, analysts expect that the firm will post sales of $11.13 billion per share, with estimates ranging from $10.80 billion to $11.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Quanta Services.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. Quanta Services had a net margin of 3.14% and a return on equity of 7.57%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year.

A number of brokerages recently issued reports on PWR. Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, May 9th. B. Riley decreased their price target on shares of Quanta Services from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, February 26th. DA Davidson reiterated a “buy” rating on shares of Quanta Services in a research note on Thursday, February 22nd. Credit Suisse Group reiterated an “outperform” rating and issued a $42.00 price target (down previously from $46.00) on shares of Quanta Services in a research note on Friday, February 23rd. Finally, KeyCorp reiterated an “overweight” rating and issued a $49.00 price target (up previously from $46.00) on shares of Quanta Services in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.23.

Several large investors have recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. lifted its position in shares of Quanta Services by 0.4% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 370,657 shares of the construction company’s stock worth $14,496,000 after buying an additional 1,410 shares during the last quarter. Oakbrook Investments LLC raised its position in Quanta Services by 12.8% in the 4th quarter. Oakbrook Investments LLC now owns 13,020 shares of the construction company’s stock valued at $509,000 after purchasing an additional 1,480 shares during the last quarter. Maple Capital Management Inc. raised its position in Quanta Services by 25.6% in the 1st quarter. Maple Capital Management Inc. now owns 7,612 shares of the construction company’s stock valued at $261,000 after purchasing an additional 1,550 shares during the last quarter. ING Groep NV raised its position in Quanta Services by 12.6% in the 4th quarter. ING Groep NV now owns 14,711 shares of the construction company’s stock valued at $575,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Amalgamated Bank raised its position in Quanta Services by 5.7% in the 4th quarter. Amalgamated Bank now owns 31,128 shares of the construction company’s stock valued at $1,217,000 after purchasing an additional 1,681 shares during the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.

Quanta Services stock traded up $0.01 during trading on Thursday, reaching $36.50. The stock had a trading volume of 999,209 shares, compared to its average volume of 1,496,724. Quanta Services has a 52-week low of $36.14 and a 52-week high of $36.56. The company has a quick ratio of 1.85, a current ratio of 1.91 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.44 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.79 and a beta of 0.87.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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