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Quanta Services (PWR) Dips More Than Broader Market: What You Should Know
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Quanta Services (PWR - Free Report) closed at $555.39 in the latest trading session, marking a -3.9% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.51% for the day. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 2.01%.
The stock of specialty contractor for utility and energy companies has risen by 4.32% in the past month, leading the Construction sector's loss of 11.73% and the S&P 500's loss of 3.63%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. In that report, analysts expect Quanta Services to post earnings of $2.14 per share. This would mark year-over-year growth of 20.22%. In the meantime, our current consensus estimate forecasts the revenue to be $7.11 billion, indicating a 14.08% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.84 per share and a revenue of $33.28 billion, representing changes of +19.44% and +16.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 5.03% higher within the past month. At present, Quanta Services boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 45 right now. This signifies a premium in comparison to the average Forward P/E of 23.33 for its industry.
One should further note that PWR currently holds a PEG ratio of 2.44. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Engineering - R and D Services industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Quanta Services (PWR) Dips More Than Broader Market: What You Should Know
Quanta Services (PWR - Free Report) closed at $555.39 in the latest trading session, marking a -3.9% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.51% for the day. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 2.01%.
The stock of specialty contractor for utility and energy companies has risen by 4.32% in the past month, leading the Construction sector's loss of 11.73% and the S&P 500's loss of 3.63%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. In that report, analysts expect Quanta Services to post earnings of $2.14 per share. This would mark year-over-year growth of 20.22%. In the meantime, our current consensus estimate forecasts the revenue to be $7.11 billion, indicating a 14.08% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.84 per share and a revenue of $33.28 billion, representing changes of +19.44% and +16.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanta Services. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 5.03% higher within the past month. At present, Quanta Services boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 45 right now. This signifies a premium in comparison to the average Forward P/E of 23.33 for its industry.
One should further note that PWR currently holds a PEG ratio of 2.44. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Engineering - R and D Services industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.