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Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know
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Quanta Services (PWR - Free Report) closed at $117.80 in the latest trading session, marking a +0.62% move from the prior day. This move outpaced the S&P 500's daily gain of 0.21%. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.02%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had lost 12.93% over the past month. This has lagged the Construction sector's loss of 5.67% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from Quanta Services as it approaches its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of $1.30, up 56.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.64 billion, up 34.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.30 per share and revenue of $16.27 billion, which would represent changes of +28.05% and +25.33%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.66% lower within the past month. Quanta Services is currently a Zacks Rank #3 (Hold).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 18.58. Its industry sports an average Forward P/E of 19.45, 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 157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know
Quanta Services (PWR - Free Report) closed at $117.80 in the latest trading session, marking a +0.62% move from the prior day. This move outpaced the S&P 500's daily gain of 0.21%. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.02%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had lost 12.93% over the past month. This has lagged the Construction sector's loss of 5.67% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from Quanta Services as it approaches its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of $1.30, up 56.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.64 billion, up 34.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.30 per share and revenue of $16.27 billion, which would represent changes of +28.05% and +25.33%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.66% lower within the past month. Quanta Services is currently a Zacks Rank #3 (Hold).
Investors should also note Quanta Services's current valuation metrics, including its Forward P/E ratio of 18.58. Its industry sports an average Forward P/E of 19.45, 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 157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.