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Quanta Services (PWR) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with Quanta Services (PWR - Free Report) standing at $269.32, reflecting a +0.76% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Shares of the specialty contractor for utility and energy companies have depreciated by 1.07% over the course of the past month, outperforming the Construction sector's loss of 3.22% and lagging the S&P 500's gain of 3.51%.
Analysts and investors alike will be keeping a close eye on the performance of Quanta Services in its upcoming earnings disclosure. On that day, Quanta Services is projected to report earnings of $1.87 per share, which would represent year-over-year growth of 13.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, up 9.43% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.44 per share and a revenue of $22.65 billion, indicating changes of +17.88% and +8.48%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 31.66. This expresses a premium compared to the average Forward P/E of 19.31 of its industry.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Quanta Services (PWR - Free Report) standing at $269.32, reflecting a +0.76% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Shares of the specialty contractor for utility and energy companies have depreciated by 1.07% over the course of the past month, outperforming the Construction sector's loss of 3.22% and lagging the S&P 500's gain of 3.51%.
Analysts and investors alike will be keeping a close eye on the performance of Quanta Services in its upcoming earnings disclosure. On that day, Quanta Services is projected to report earnings of $1.87 per share, which would represent year-over-year growth of 13.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, up 9.43% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.44 per share and a revenue of $22.65 billion, indicating changes of +17.88% and +8.48%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 31.66. This expresses a premium compared to the average Forward P/E of 19.31 of its industry.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.