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.
Quanta Services (PWR) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
In the latest close session, Quanta Services (PWR - Free Report) was up +2.34% at $639.05. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. Elsewhere, the Dow lost 1.18%, while the tech-heavy Nasdaq lost 0.32%.
The stock of specialty contractor for utility and energy companies has fallen by 5.52% in the past month, leading the Construction sector's loss of 7.66% and undershooting the S&P 500's loss of 0.36%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company's upcoming EPS is projected at $4.87, signifying a 46.25% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.97 billion, up 43.75% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.37 per share and revenue of $39.4 billion, indicating changes of +52.28% and +38.36%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Quanta Services should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanta Services is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Quanta Services is presently trading at a Forward P/E ratio of 38.14. This indicates a premium in contrast to its industry's Forward P/E of 24.02.
One should further note that PWR currently holds a PEG ratio of 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Engineering - R and D Services industry currently had an average PEG ratio of 1.59 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 102, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
Image: Bigstock
Quanta Services (PWR) Rises As Market Takes a Dip: Key Facts
In the latest close session, Quanta Services (PWR - Free Report) was up +2.34% at $639.05. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. Elsewhere, the Dow lost 1.18%, while the tech-heavy Nasdaq lost 0.32%.
The stock of specialty contractor for utility and energy companies has fallen by 5.52% in the past month, leading the Construction sector's loss of 7.66% and undershooting the S&P 500's loss of 0.36%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company's upcoming EPS is projected at $4.87, signifying a 46.25% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.97 billion, up 43.75% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.37 per share and revenue of $39.4 billion, indicating changes of +52.28% and +38.36%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Quanta Services should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanta Services is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Quanta Services is presently trading at a Forward P/E ratio of 38.14. This indicates a premium in contrast to its industry's Forward P/E of 24.02.
One should further note that PWR currently holds a PEG ratio of 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Engineering - R and D Services industry currently had an average PEG ratio of 1.59 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 102, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PWR in the coming trading sessions, be sure to utilize Zacks.com.