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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 $269.54, marking a +0.39% move from the previous day. The stock lagged the S&P 500's daily gain of 0.54%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.65%.
Heading into today, shares of the specialty contractor for utility and energy companies had gained 0.21% over the past month, lagging the Construction sector's gain of 5.07% and the S&P 500's gain of 4.86% in that time.
The investment community will be paying close attention to the earnings performance of Quanta Services in its upcoming release. It is anticipated that the company will report an EPS of $2.70, marking a 20.54% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.56 billion, indicating a 16.67% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.59 per share and a revenue of $23.84 billion, representing changes of +19.97% and +14.15%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Currently, Quanta Services is carrying a Zacks Rank of #3 (Hold).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 31.24. This denotes a premium relative to the industry's average Forward P/E of 21.49.
The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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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 $269.54, marking a +0.39% move from the previous day. The stock lagged the S&P 500's daily gain of 0.54%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.65%.
Heading into today, shares of the specialty contractor for utility and energy companies had gained 0.21% over the past month, lagging the Construction sector's gain of 5.07% and the S&P 500's gain of 4.86% in that time.
The investment community will be paying close attention to the earnings performance of Quanta Services in its upcoming release. It is anticipated that the company will report an EPS of $2.70, marking a 20.54% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.56 billion, indicating a 16.67% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.59 per share and a revenue of $23.84 billion, representing changes of +19.97% and +14.15%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Currently, Quanta Services is carrying a Zacks Rank of #3 (Hold).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 31.24. This denotes a premium relative to the industry's average Forward P/E of 21.49.
The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.