Equities research analysts forecast that Quanta Services Inc (NYSE:PWR) will announce sales of $2.79 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Quanta Services’ earnings. The lowest sales estimate is $2.28 billion and the highest is $2.97 billion. Quanta Services posted sales of $2.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The firm is expected to announce its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Quanta Services will report full-year sales of $11.45 billion for the current financial year, with estimates ranging from $11.33 billion to $11.55 billion. For the next financial year, analysts expect that the business will post sales of $11.98 billion, with estimates ranging from $11.78 billion to $12.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts 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 for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.13. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.65 billion. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. Quanta Services’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS.
A number of research firms have recently weighed in on PWR. Citigroup set a $47.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Friday, May 3rd. DA Davidson began coverage on Heartland Banccorp in a research note on Tuesday, April 16th. They set a “buy” rating and a $96.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.80.
Several hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Quanta Services by 3.7% in the 1st 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 acquiring an additional 297 shares in the last quarter. First National Bank of Omaha raised its stake in shares of Quanta Services by 0.3% in the 2nd quarter. First National Bank of Omaha now owns 146,928 shares of the construction company’s stock valued at $5,611,000 after acquiring an additional 372 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Quanta Services by 5.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,485 shares of the construction company’s stock valued at $320,000 after acquiring an additional 412 shares in the last quarter. First Interstate Bank raised its stake in shares of Quanta Services by 0.8% in the 1st quarter. First Interstate Bank now owns 65,460 shares of the construction company’s stock valued at $2,470,000 after acquiring an additional 490 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Quanta Services by 3.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,040 shares of the construction company’s stock valued at $423,000 after acquiring an additional 519 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of PWR traded down $0.47 during midday trading on Wednesday, reaching $37.37. 590,032 shares of the stock were exchanged, compared to its average volume of 1,373,537. Quanta Services has a 12-month low of $27.90 and a 12-month high of $41.00. The business has a 50 day simple moving average of $37.78. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.95 and a current ratio of 2.00. The firm has a market cap of $5.38 billion, a P/E ratio of 14.77 and a beta of 1.18.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, June 28th. Quanta Services’s dividend payout ratio (DPR) is presently 6.32%.
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.
Featured Story: What Does a Sell-Side Analyst Rating Mean?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.