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Construction Stocks Earnings on May 4: FLR, PWR, MTZ & TREX
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The Q1 earnings season is in full swing and we have crossed the halfway mark in the Q1 reporting cycle for the S&P 500 index (as on Apr 28). Earnings of these 288 S&P 500 members (accounting for 63.8% of the index’s total market capitalization) are up 13.7% on 8.2% higher revenues.
Of the companies that have reported results, 72.6% surpassed earnings estimates, with 62.1% coming ahead of revenue estimates. Clearly, growth has been steadily accelerating compared to the preceding quarter and is actually on pace to reach its highest level in nearly three years. Notably, the growth is quite broad based in terms of sectors, as Finance, Technology, Industrials, Basic Materials and Energy have all performed well. (For more details, read our latest Earnings Preview article: The Tech Sector's Strong Earnings Power).
In fact, our latest data projects that the earnings for the S&P 500 companies are now on track to grow an impressive 11.2% from the year-ago period, on 6.2% higher revenues. This is comparable to earnings growth of 7.4% recorded in fourth-quarter 2016 on 4.8% higher revenues.
The Construction space is one of the sectors expected to chart positive earnings growth this quarter. In fact, its earnings are on track to be up 8.6% in the quarter, on 5.4% higher sales compared with the last year.
Let’s have a look at some companies within the sector like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) , MasTec, Inc. (MTZ - Free Report) and Trex Company, Inc. (TREX - Free Report) , ahead of their scheduled announcements tomorrow.
Fluor offers engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients. It has a choppy earnings surprise history, having beaten estimates twice in the trailing four quarters for as many misses, with an average positive surprise of 3.5%. In the last reported quarter, the company surpassed estimates by 2.5%.
We do not expect Fluor to beat expectations this quarter. Though the company’s Zacks Rank #2 (Buy) increases the predictive power of ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. The Zacks Consensus Estimate for the quarter is pegged at 58 cents. (For more details, read: Fluor Corp. Poised to Beat Q1 Earnings: Here's Why).
For a possible earnings beat, the company should have the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold). Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing a negative estimate revisions momentum.
Quanta Services is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet customers’ evolving needs.
Quanta Services has had a dismal earnings surprise history, with three misses and one in-line earnings over the trailing four quarters, for an average negative surprise of 17.3%. Last quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.7%.
Our proven model does not conclusively show that Quanta Services will beat on earnings this quarter as it currently carries a Zacks Rank #3 and 0.00% Earnings ESP (as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 38 cents). Though the company’s Zacks Rank #3 increases the predictive power of ESP, its zero Earnings ESP makes surprise prediction difficult.(For more details, read Quanta Services Q1 Earnings: What's in the Cards?).
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MasTec is one of the largest providers of construction services to the telecommunications industry in the U.S. The company has an impressive earnings surprise history, having beaten estimates strongly each time in the trailing four quarters, for a striking average positive surprise of 54.4%. In the last reported quarter, the company surpassed estimates by 36%.
We do not expect MasTec to beat expectations this quarter. Though the company’s Zacks Rank #3 increases the predictive power of ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. The Zacks Consensus Estimate for the quarter is pegged at 47 cents. You can see the complete list of today’s Zacks #1 Rank stocks here.
Trex Company is a manufacturer of wood-alternative decking and railing, and is based in Winchester, U.S. The company has a remarkable earnings surprise history, having beaten estimates each time in the trailing four quarters, for an average positive surprise of 10.5%. In the last reported quarter, the company surpassed estimates by 2.4%.
Our proven model does not conclusively show that Trex Companywill beat on earnings this quarter as it currently carries a Zacks Rank #3 and 0.00% Earnings ESP (with both the Most Accurate estimate and the Zacks Consensus Estimate pegged at 88 cents). Though the company’s Zacks Rank #3 increases the predictive power of ESP, its zero Earnings ESP makes surprise prediction inconclusive.
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
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Construction Stocks Earnings on May 4: FLR, PWR, MTZ & TREX
The Q1 earnings season is in full swing and we have crossed the halfway mark in the Q1 reporting cycle for the S&P 500 index (as on Apr 28). Earnings of these 288 S&P 500 members (accounting for 63.8% of the index’s total market capitalization) are up 13.7% on 8.2% higher revenues.
Of the companies that have reported results, 72.6% surpassed earnings estimates, with 62.1% coming ahead of revenue estimates. Clearly, growth has been steadily accelerating compared to the preceding quarter and is actually on pace to reach its highest level in nearly three years. Notably, the growth is quite broad based in terms of sectors, as Finance, Technology, Industrials, Basic Materials and Energy have all performed well. (For more details, read our latest Earnings Preview article: The Tech Sector's Strong Earnings Power).
In fact, our latest data projects that the earnings for the S&P 500 companies are now on track to grow an impressive 11.2% from the year-ago period, on 6.2% higher revenues. This is comparable to earnings growth of 7.4% recorded in fourth-quarter 2016 on 4.8% higher revenues.
The Construction space is one of the sectors expected to chart positive earnings growth this quarter. In fact, its earnings are on track to be up 8.6% in the quarter, on 5.4% higher sales compared with the last year.
Let’s have a look at some companies within the sector like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) , MasTec, Inc. (MTZ - Free Report) and Trex Company, Inc. (TREX - Free Report) , ahead of their scheduled announcements tomorrow.
Fluor offers engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients. It has a choppy earnings surprise history, having beaten estimates twice in the trailing four quarters for as many misses, with an average positive surprise of 3.5%. In the last reported quarter, the company surpassed estimates by 2.5%.
We do not expect Fluor to beat expectations this quarter. Though the company’s Zacks Rank #2 (Buy) increases the predictive power of ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. The Zacks Consensus Estimate for the quarter is pegged at 58 cents. (For more details, read: Fluor Corp. Poised to Beat Q1 Earnings: Here's Why).
For a possible earnings beat, the company should have the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold). Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing a negative estimate revisions momentum.
Fluor Corporation Price and EPS Surprise
Fluor Corporation Price and EPS Surprise | Fluor Corporation Quote
Quanta Services is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet customers’ evolving needs.
Quanta Services has had a dismal earnings surprise history, with three misses and one in-line earnings over the trailing four quarters, for an average negative surprise of 17.3%. Last quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.7%.
Our proven model does not conclusively show that Quanta Services will beat on earnings this quarter as it currently carries a Zacks Rank #3 and 0.00% Earnings ESP (as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 38 cents). Though the company’s Zacks Rank #3 increases the predictive power of ESP, its zero Earnings ESP makes surprise prediction difficult.(For more details, read Quanta Services Q1 Earnings: What's in the Cards?).
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Quanta Services, Inc. Price and EPS Surprise
Quanta Services, Inc. Price and EPS Surprise | Quanta Services, Inc. Quote
MasTec is one of the largest providers of construction services to the telecommunications industry in the U.S. The company has an impressive earnings surprise history, having beaten estimates strongly each time in the trailing four quarters, for a striking average positive surprise of 54.4%. In the last reported quarter, the company surpassed estimates by 36%.
We do not expect MasTec to beat expectations this quarter. Though the company’s Zacks Rank #3 increases the predictive power of ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. The Zacks Consensus Estimate for the quarter is pegged at 47 cents. You can see the complete list of today’s Zacks #1 Rank stocks here.
MasTec, Inc. Price and EPS Surprise
MasTec, Inc. Price and EPS Surprise | MasTec, Inc. Quote
Trex Company is a manufacturer of wood-alternative decking and railing, and is based in Winchester, U.S. The company has a remarkable earnings surprise history, having beaten estimates each time in the trailing four quarters, for an average positive surprise of 10.5%. In the last reported quarter, the company surpassed estimates by 2.4%.
Our proven model does not conclusively show that Trex Companywill beat on earnings this quarter as it currently carries a Zacks Rank #3 and 0.00% Earnings ESP (with both the Most Accurate estimate and the Zacks Consensus Estimate pegged at 88 cents). Though the company’s Zacks Rank #3 increases the predictive power of ESP, its zero Earnings ESP makes surprise prediction inconclusive.
Trex Company, Inc. Price and EPS Surprise
Trex Company, Inc. Price and EPS Surprise | Trex Company, Inc. Quote
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>