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In the latest close session, Quanta Services (PWR - Free Report) was up +2.86% at $549.02. This move lagged the S&P 500's daily gain of 2.91%. Elsewhere, the Dow saw an upswing of 2.49%, while the tech-heavy Nasdaq appreciated by 3.83%.
The specialty contractor for utility and energy companies's stock has dropped by 6.79% in the past month, exceeding the Construction sector's loss of 13.91% and the S&P 500's loss of 7.64%.
The upcoming earnings release of Quanta Services will be of great interest to investors. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $7.11 billion, showing a 14.08% escalation compared to the year-ago quarter.
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.
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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.66% upward. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Quanta Services is holding a Forward P/E ratio of 41.56. For comparison, its industry has an average Forward P/E of 22.84, which means Quanta Services is trading at a premium to the group.
Also, we should mention that PWR has a PEG ratio of 2.26. 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 1.5 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 77, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quanta Services (PWR) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest close session, Quanta Services (PWR - Free Report) was up +2.86% at $549.02. This move lagged the S&P 500's daily gain of 2.91%. Elsewhere, the Dow saw an upswing of 2.49%, while the tech-heavy Nasdaq appreciated by 3.83%.
The specialty contractor for utility and energy companies's stock has dropped by 6.79% in the past month, exceeding the Construction sector's loss of 13.91% and the S&P 500's loss of 7.64%.
The upcoming earnings release of Quanta Services will be of great interest to investors. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $7.11 billion, showing a 14.08% escalation compared to the year-ago quarter.
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.
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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.66% upward. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Quanta Services is holding a Forward P/E ratio of 41.56. For comparison, its industry has an average Forward P/E of 22.84, which means Quanta Services is trading at a premium to the group.
Also, we should mention that PWR has a PEG ratio of 2.26. 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 1.5 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 77, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.