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Why Quanta Services (PWR) Dipped More Than Broader Market Today
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In the latest trading session, Quanta Services (PWR - Free Report) closed at $642.51, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily loss of 0.25%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 0.24%.
Shares of the specialty contractor for utility and energy companies witnessed a gain of 6.61% over the previous month, beating the performance of the Construction sector with its loss of 4.32%, and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company is predicted to post an EPS of $5.01, indicating a 50.45% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.99 billion, reflecting a 43.95% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.7 per share and revenue of $39.41 billion. These totals would mark changes of +55.35% and +38.37%, respectively, from last 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. Right now, Quanta Services possesses a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 39.04. This signifies a premium in comparison to the average Forward P/E of 23.22 for its industry.
We can additionally observe that PWR currently boasts a PEG ratio of 1.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Engineering - R and D Services industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Why Quanta Services (PWR) Dipped More Than Broader Market Today
In the latest trading session, Quanta Services (PWR - Free Report) closed at $642.51, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily loss of 0.25%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 0.24%.
Shares of the specialty contractor for utility and energy companies witnessed a gain of 6.61% over the previous month, beating the performance of the Construction sector with its loss of 4.32%, and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company is predicted to post an EPS of $5.01, indicating a 50.45% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.99 billion, reflecting a 43.95% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.7 per share and revenue of $39.41 billion. These totals would mark changes of +55.35% and +38.37%, respectively, from last 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. Right now, Quanta Services possesses a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 39.04. This signifies a premium in comparison to the average Forward P/E of 23.22 for its industry.
We can additionally observe that PWR currently boasts a PEG ratio of 1.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Engineering - R and D Services industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.