Wall Street brokerages expect that Quanta Services Inc (NYSE:PWR) will announce $0.84 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Quanta Services’ earnings. The highest EPS estimate is $0.87 and the lowest is $0.73. Quanta Services posted earnings per share of $0.59 during the same quarter last year, which would suggest a positive year over year growth rate of 42.4%. The company is expected to announce its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Quanta Services will report full-year earnings of $3.64 per share for the current year, with EPS estimates ranging from $3.60 to $3.72. For the next financial year, analysts anticipate that the company 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 an average based on a survey of sell-side research firms that follow Quanta Services.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.13. Quanta Services had a net margin of 3.25% and a return on equity of 12.71%. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year.
Several equities research analysts have issued reports on PWR shares. B. Riley reaffirmed a “buy” rating and set a $47.00 price target (down from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Citigroup set a $47.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, DA Davidson lowered shares of Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Four analysts have rated the stock with 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 $42.80.
In other news, insider James Redgie Probst sold 100,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the transaction, the insider now directly owns 47,420 shares in the company, valued at approximately $1,896,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in PWR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Quanta Services by 3.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,264 shares of the construction company’s stock valued at $312,000 after buying an additional 297 shares during the period. Rehmann Capital Advisory Group raised its holdings in Quanta Services by 5.1% in the first quarter. Rehmann Capital Advisory Group now owns 8,485 shares of the construction company’s stock valued at $320,000 after buying an additional 412 shares during the period. Boston Partners raised its holdings in Quanta Services by 0.6% in the fourth quarter. Boston Partners now owns 76,946 shares of the construction company’s stock valued at $2,316,000 after buying an additional 484 shares during the period. First Interstate Bank raised its holdings in Quanta Services by 0.8% in the first quarter. First Interstate Bank now owns 65,460 shares of the construction company’s stock valued at $2,470,000 after buying an additional 490 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Quanta Services by 3.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,040 shares of the construction company’s stock valued at $423,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.
Shares of Quanta Services stock traded up $0.20 during mid-day trading on Friday, hitting $37.93. 42,390 shares of the stock were exchanged, compared to its average volume of 1,337,000. Quanta Services has a twelve month low of $27.90 and a twelve month high of $41.00. The company has a market cap of $5.40 billion, a PE ratio of 14.88 and a beta of 1.16. The stock has a 50-day moving average of $36.64. The company has a quick ratio of 1.95, a current ratio of 2.00 and a debt-to-equity ratio of 0.41.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.42%. Quanta Services’s 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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