Quanta Services Given Consensus Recommendation of “Buy” by Brokerages (NYSE:PWR)
Quanta Services (NYSE:PWR) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, American Banking and Market News reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.14.
Shares of Quanta Services (NYSE:PWR) opened at 33.94 on Friday. Quanta Services has a one year low of $25.57 and a one year high of $37.42. The stock’s 50-day moving average is $34.70 and its 200-day moving average is $34.36. The company has a market cap of $7.454 billion and a P/E ratio of 18.66.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 26.5% on a year-over-year basis. Analysts expect that Quanta Services will post $1.89 EPS for the current fiscal year.
A number of research firms have recently commented on PWR. Analysts at Robert W. Baird upgraded shares of Quanta Services from a “neutral” rating to an “outperform” rating in a research note on Friday. They now have a $40.00 price target on the stock, down previously from $41.00. Separately, analysts at Global Hunter Securities initiated coverage on shares of Quanta Services in a research note on Thursday, June 19th. They set a “buy” rating and a $41.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Quanta Services in a research note on Friday, June 13th. They now have a $36.00 price target on the stock.
Quanta Services, Inc (NYSE:PWR) is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and natural gas and oil pipeline industries.
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