Quanta Services, Inc. (NYSE:PWR) Expected to Announce Earnings of $0.98 Per Share

Wall Street analysts expect Quanta Services, Inc. (NYSE:PWR) to report $0.98 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have issued estimates for Quanta Services’ earnings. The highest EPS estimate is $1.07 and the lowest is $0.89. Quanta Services reported earnings of $0.74 per share in the same quarter last year, which indicates a positive year over year growth rate of 32.4%. The business is scheduled to report its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that Quanta Services will report full-year earnings of $4.42 per share for the current financial year, with EPS estimates ranging from $4.30 to $4.52. For the next financial year, analysts expect that the business will post earnings of $4.94 per share, with EPS estimates ranging from $4.68 to $5.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Quanta Services.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 6th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.63 by $0.20. Quanta Services had a return on equity of 12.66% and a net margin of 4.46%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the company earned $0.47 earnings per share. Quanta Services’s quarterly revenue was down 2.2% compared to the same quarter last year.

Several analysts have commented on PWR shares. KeyCorp raised their price objective on Quanta Services from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 19th. Piper Sandler assumed coverage on Quanta Services in a research note on Tuesday, June 8th. They issued an “overweight” rating and a $115.00 price target on the stock. B. Riley lifted their price target on Quanta Services from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Finally, Cowen assumed coverage on Quanta Services in a research note on Monday. They issued an “outperform” rating and a $105.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $87.00.

In other Quanta Services news, VP Nicholas M. Grindstaff sold 8,454 shares of Quanta Services stock in a transaction on Monday, May 10th. The stock was sold at an average price of $101.22, for a total value of $855,713.88. Following the sale, the vice president now owns 31,868 shares in the company, valued at $3,225,678.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Michal Conaway sold 3,500 shares of Quanta Services stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $89.57, for a total value of $313,495.00. Following the completion of the sale, the director now owns 7,226 shares in the company, valued at approximately $647,232.82. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its holdings in shares of Quanta Services by 11.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,123 shares of the construction company’s stock valued at $99,000 after buying an additional 111 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Quanta Services by 2.8% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,132 shares of the construction company’s stock valued at $364,000 after buying an additional 113 shares during the period. Arkadios Wealth Advisors raised its holdings in shares of Quanta Services by 4.6% in the 1st quarter. Arkadios Wealth Advisors now owns 2,753 shares of the construction company’s stock valued at $242,000 after buying an additional 120 shares during the period. Savant Capital LLC grew its stake in Quanta Services by 3.7% during the 1st quarter. Savant Capital LLC now owns 3,681 shares of the construction company’s stock worth $324,000 after purchasing an additional 130 shares in the last quarter. Finally, Veritable L.P. grew its stake in Quanta Services by 2.1% during the 1st quarter. Veritable L.P. now owns 6,689 shares of the construction company’s stock worth $588,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

PWR traded down $0.45 during trading on Thursday, hitting $89.10. The company’s stock had a trading volume of 10,412 shares, compared to its average volume of 944,368. The company has a quick ratio of 1.69, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. Quanta Services has a twelve month low of $39.20 and a twelve month high of $101.96. The business’s fifty day moving average price is $91.35. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 25.88 and a beta of 1.25.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Thursday, July 1st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Quanta Services’s payout ratio is 7.23%.

About Quanta Services

Quanta Services, Inc provides specialty contracting services worldwide. The Electric Power Infrastructure Solutions segment engages in the design, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; energized installation, maintenance, and upgrade of electric power infrastructure; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.

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Earnings History and Estimates for Quanta Services (NYSE:PWR)

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