We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Quanta Services (PWR) Dipped More Than Broader Market Today
Read MoreHide Full Article
In the latest trading session, Quanta Services (PWR - Free Report) closed at $377.56, marking a -2.14% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.07%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.03%.
Shares of the specialty contractor for utility and energy companies witnessed a gain of 8.47% over the previous month, beating the performance of the Construction sector with its gain of 3.52%, and the S&P 500's gain of 3.94%.
The investment community will be paying close attention to the earnings performance of Quanta Services in its upcoming release. The company is predicted to post an EPS of $2.43, indicating a 27.89% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.55 billion, up 17.11% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.32 per share and revenue of $27.06 billion, which would represent changes of +15.05% and +14.3%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanta Services presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Quanta Services is at present trading with a Forward P/E ratio of 37.37. This signifies a premium in comparison to the average Forward P/E of 20.44 for its industry.
It is also worth noting that PWR currently has a PEG ratio of 2.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Engineering - R and D Services industry stood at 1.81 at the close of the market yesterday.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Quanta Services (PWR) Dipped More Than Broader Market Today
In the latest trading session, Quanta Services (PWR - Free Report) closed at $377.56, marking a -2.14% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.07%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.03%.
Shares of the specialty contractor for utility and energy companies witnessed a gain of 8.47% over the previous month, beating the performance of the Construction sector with its gain of 3.52%, and the S&P 500's gain of 3.94%.
The investment community will be paying close attention to the earnings performance of Quanta Services in its upcoming release. The company is predicted to post an EPS of $2.43, indicating a 27.89% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.55 billion, up 17.11% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.32 per share and revenue of $27.06 billion, which would represent changes of +15.05% and +14.3%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanta Services presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Quanta Services is at present trading with a Forward P/E ratio of 37.37. This signifies a premium in comparison to the average Forward P/E of 20.44 for its industry.
It is also worth noting that PWR currently has a PEG ratio of 2.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Engineering - R and D Services industry stood at 1.81 at the close of the market yesterday.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.