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Quanta Services (PWR) Ascends But Remains Behind Market: Some Facts to Note
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The latest trading session saw Quanta Services (PWR - Free Report) ending at $310.98, denoting a +0.5% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
The specialty contractor for utility and energy companies's shares have seen an increase of 14.8% over the last month, surpassing the Construction sector's gain of 5.93% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. On that day, Quanta Services is projected to report earnings of $2.68 per share, which would represent year-over-year growth of 19.64%. In the meantime, our current consensus estimate forecasts the revenue to be $6.55 billion, indicating a 16.62% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.60 per share and a revenue of $23.83 billion, signifying shifts of +20.11% and +14.12%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. As of now, Quanta Services holds a Zacks Rank of #2 (Buy).
In the context of valuation, Quanta Services is at present trading with a Forward P/E ratio of 35.98. Its industry sports an average Forward P/E of 21.36, so one might conclude that Quanta Services is trading at a premium comparatively.
The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 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.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.
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Quanta Services (PWR) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Quanta Services (PWR - Free Report) ending at $310.98, denoting a +0.5% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
The specialty contractor for utility and energy companies's shares have seen an increase of 14.8% over the last month, surpassing the Construction sector's gain of 5.93% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. On that day, Quanta Services is projected to report earnings of $2.68 per share, which would represent year-over-year growth of 19.64%. In the meantime, our current consensus estimate forecasts the revenue to be $6.55 billion, indicating a 16.62% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.60 per share and a revenue of $23.83 billion, signifying shifts of +20.11% and +14.12%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. As of now, Quanta Services holds a Zacks Rank of #2 (Buy).
In the context of valuation, Quanta Services is at present trading with a Forward P/E ratio of 35.98. Its industry sports an average Forward P/E of 21.36, so one might conclude that Quanta Services is trading at a premium comparatively.
The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 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.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.