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Why Quanta Services (PWR) Dipped More Than Broader Market Today
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Quanta Services (PWR - Free Report) ended the recent trading session at $545.64, demonstrating a -4.86% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 1.74% for the day. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 2.38%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had gained 1.91% outpaced the Construction sector's loss of 8.5% and the S&P 500's loss of 4.99%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company is forecasted to report an EPS of $2.14, showcasing a 20.22% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.11 billion, up 14.08% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $12.84 per share and a revenue of $33.28 billion, demonstrating changes of +19.44% and +16.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.1% higher. Quanta Services is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Quanta Services is currently exchanging hands at a Forward P/E ratio of 44.65. For comparison, its industry has an average Forward P/E of 22.7, which means Quanta Services is trading at a premium to the group.
Investors should also note that PWR has a PEG ratio of 2.42 right now. 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 Engineering - R and D Services industry currently had an average PEG ratio of 1.61 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 50, putting it in the top 21% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Quanta Services (PWR) Dipped More Than Broader Market Today
Quanta Services (PWR - Free Report) ended the recent trading session at $545.64, demonstrating a -4.86% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 1.74% for the day. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 2.38%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had gained 1.91% outpaced the Construction sector's loss of 8.5% and the S&P 500's loss of 4.99%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company is forecasted to report an EPS of $2.14, showcasing a 20.22% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.11 billion, up 14.08% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $12.84 per share and a revenue of $33.28 billion, demonstrating changes of +19.44% and +16.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.1% higher. Quanta Services is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Quanta Services is currently exchanging hands at a Forward P/E ratio of 44.65. For comparison, its industry has an average Forward P/E of 22.7, which means Quanta Services is trading at a premium to the group.
Investors should also note that PWR has a PEG ratio of 2.42 right now. 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 Engineering - R and D Services industry currently had an average PEG ratio of 1.61 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 50, putting it in the top 21% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.