In the latest trading session, Quanta Services (PWR - Free Report) closed at $142.50, marking a -0.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had lost 5.95% over the past month. This has lagged the Construction sector's loss of 0.1% and the S&P 500's loss of 2.59% in that time.
Quanta Services will be looking to display strength as it nears its next earnings release. In that report, analysts expect Quanta Services to post earnings of $1.61 per share. This would mark year-over-year growth of 4.55%. Meanwhile, our latest consensus estimate is calling for revenue of $4.27 billion, up 8.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.30 per share and revenue of $16.93 billion, which would represent changes of +28.05% and +30.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. Quanta Services is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 22.66. This represents a premium compared to its industry's average Forward P/E of 22.41.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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In the latest trading session, Quanta Services (PWR - Free Report) closed at $142.50, marking a -0.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had lost 5.95% over the past month. This has lagged the Construction sector's loss of 0.1% and the S&P 500's loss of 2.59% in that time.
Quanta Services will be looking to display strength as it nears its next earnings release. In that report, analysts expect Quanta Services to post earnings of $1.61 per share. This would mark year-over-year growth of 4.55%. Meanwhile, our latest consensus estimate is calling for revenue of $4.27 billion, up 8.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.30 per share and revenue of $16.93 billion, which would represent changes of +28.05% and +30.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. Quanta Services is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 22.66. This represents a premium compared to its industry's average Forward P/E of 22.41.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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