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Quanta Services (PWR) Stock Falls Amid Market Uptick: What Investors Need to Know
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Quanta Services (PWR - Free Report) closed at $554.38 in the latest trading session, marking a -1.11% move from the prior day. This change lagged the S&P 500's 0.44% gain on the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.54%.
The specialty contractor for utility and energy companies's shares have seen an increase of 3.78% over the last month, surpassing the Construction sector's loss of 7.17% and the S&P 500's loss of 3.31%.
The upcoming earnings release of Quanta Services will be of great interest to investors. 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. 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 $33.3 billion, representing changes of +19.44% and +16.92%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Quanta Services. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 0.14% higher. Quanta Services is currently a Zacks Rank #3 (Hold).
In terms of valuation, Quanta Services is presently being traded at a Forward P/E ratio of 43.65. Its industry sports an average Forward P/E of 25.65, so one might conclude that Quanta Services is trading at a premium comparatively.
One should further note that PWR currently holds a PEG ratio of 2.37. 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 had an average PEG ratio of 1.7 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 28% of all industries, numbering over 250.
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.
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) Stock Falls Amid Market Uptick: What Investors Need to Know
Quanta Services (PWR - Free Report) closed at $554.38 in the latest trading session, marking a -1.11% move from the prior day. This change lagged the S&P 500's 0.44% gain on the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.54%.
The specialty contractor for utility and energy companies's shares have seen an increase of 3.78% over the last month, surpassing the Construction sector's loss of 7.17% and the S&P 500's loss of 3.31%.
The upcoming earnings release of Quanta Services will be of great interest to investors. 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. 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 $33.3 billion, representing changes of +19.44% and +16.92%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Quanta Services. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 0.14% higher. Quanta Services is currently a Zacks Rank #3 (Hold).
In terms of valuation, Quanta Services is presently being traded at a Forward P/E ratio of 43.65. Its industry sports an average Forward P/E of 25.65, so one might conclude that Quanta Services is trading at a premium comparatively.
One should further note that PWR currently holds a PEG ratio of 2.37. 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 had an average PEG ratio of 1.7 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 28% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.