Quanta Services (PWR) Rating Reiterated by KeyCorp
Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reissued by research analysts at KeyCorp in a report released on Wednesday. They presently have a $46.00 price objective on the construction company’s stock. KeyCorp’s target price would suggest a potential upside of 21.37% from the company’s current price.
A number of other brokerages have also recently commented on PWR. Zacks Investment Research cut shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Citigroup set a $47.00 target price on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 27th. Robert W. Baird reissued a “hold” rating and issued a $39.00 price objective on shares of Quanta Services in a research note on Friday, October 6th. ValuEngine cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Quanta Services has a consensus rating of “Buy” and an average target price of $44.64.
Shares of Quanta Services (PWR) opened at $37.90 on Wednesday. Quanta Services has a twelve month low of $30.23 and a twelve month high of $38.82. The company has a market cap of $5,733.95, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.87. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. equities research analysts predict that Quanta Services will post 1.77 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware acquired a new stake in Quanta Services in the third quarter valued at $111,000. Tower Research Capital LLC TRC increased its holdings in Quanta Services by 182.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after purchasing an additional 2,190 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after buying an additional 840 shares during the period. Commonwealth Bank of Australia acquired a new position in Quanta Services during the second quarter worth approximately $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Quanta Services by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after buying an additional 708 shares during the last quarter. Institutional investors and hedge funds own 85.95% of the company’s stock.
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About Quanta Services
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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