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Quanta Services (PWR) Gains But Lags Market: What You Should Know
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In the latest trading session, Quanta Services (PWR - Free Report) closed at $103.81, marking a +0.67% move from the previous day. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 11.22% over the past month, lagging the Construction sector's loss of 11.02% and the S&P 500's loss of 4.63% in that time.
Investors will be hoping for strength from Quanta Services as it approaches its next earnings release. The company is expected to report EPS of $1.41, up 15.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.68 billion, up 26.53% from the year-ago period.
Any recent changes to analyst estimates for Quanta Services should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. Quanta Services currently has a Zacks Rank of #2 (Buy).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 16.7. For comparison, its industry has an average Forward P/E of 19.35, which means Quanta Services is trading at a discount to the group.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Quanta Services (PWR) Gains But Lags Market: What You Should Know
In the latest trading session, Quanta Services (PWR - Free Report) closed at $103.81, marking a +0.67% move from the previous day. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 11.22% over the past month, lagging the Construction sector's loss of 11.02% and the S&P 500's loss of 4.63% in that time.
Investors will be hoping for strength from Quanta Services as it approaches its next earnings release. The company is expected to report EPS of $1.41, up 15.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.68 billion, up 26.53% from the year-ago period.
Any recent changes to analyst estimates for Quanta Services should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. Quanta Services currently has a Zacks Rank of #2 (Buy).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 16.7. For comparison, its industry has an average Forward P/E of 19.35, which means Quanta Services is trading at a discount to the group.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.