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Quanta Services (PWR) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Quanta Services (PWR - Free Report) closed at $99.46, marking a -0.45% move from the previous day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 6.31% over the past month, outpacing the Construction sector's loss of 10.12% and lagging the S&P 500's loss of 6.25% in that time.
Quanta Services will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Quanta Services to post earnings of $1.41 per share. This would mark year-over-year growth of 15.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.68 billion, up 26.53% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.4% higher. Quanta Services currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 16.18 right now. Its industry sports an average Forward P/E of 18.53, so we one might conclude that Quanta Services is trading at a discount comparatively.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.
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Quanta Services (PWR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Quanta Services (PWR - Free Report) closed at $99.46, marking a -0.45% move from the previous day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 6.31% over the past month, outpacing the Construction sector's loss of 10.12% and lagging the S&P 500's loss of 6.25% in that time.
Quanta Services will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Quanta Services to post earnings of $1.41 per share. This would mark year-over-year growth of 15.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.68 billion, up 26.53% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.4% higher. Quanta Services currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 16.18 right now. Its industry sports an average Forward P/E of 18.53, so we one might conclude that Quanta Services is trading at a discount comparatively.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.