Wall Street analysts forecast that Quanta Services, Inc. (NYSE:PWR) will post earnings of $0.50 per share for the current quarter, according to Zacks. Eight analysts have issued estimates for Quanta Services’ earnings. The highest EPS estimate is $0.57 and the lowest is $0.44. Quanta Services posted earnings per share of $0.14 in the same quarter last year, which would indicate a positive year over year growth rate of 257.1%. The business is expected to report its next quarterly earnings report on Thursday, August 3rd.

On average, analysts expect that Quanta Services will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.95. For the next financial year, analysts expect that the company will report earnings of $2.28 per share, with EPS estimates ranging from $2.00 to $2.48. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Quanta Services.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 4th. The construction company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Quanta Services had a return on equity of 7.08% and a net margin of 2.79%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue was up 27.1% on a year-over-year basis.

A number of research analysts recently weighed in on the stock. Robert W. Baird cut shares of Quanta Services from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $38.00 in a research note on Wednesday. TheStreet upgraded shares of Quanta Services from a “c+” rating to a “b-” rating in a research note on Friday, July 7th. Credit Suisse Group restated a “buy” rating and set a $46.00 target price on shares of Quanta Services in a research note on Wednesday. BidaskClub cut shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.88.

Shares of Quanta Services (NYSE:PWR) opened at 33.94 on Friday. Quanta Services has a 52-week low of $23.22 and a 52-week high of $38.82. The firm has a market capitalization of $5.16 billion, a PE ratio of 23.46 and a beta of 0.84. The stock has a 50 day moving average price of $32.81 and a 200-day moving average price of $34.71.

Quanta Services announced that its board has authorized a share repurchase program on Thursday, May 25th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in Quanta Services by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 548,341 shares of the construction company’s stock worth $19,110,000 after buying an additional 186,047 shares during the period. Glen Harbor Capital Management LLC increased its stake in Quanta Services by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 122,668 shares of the construction company’s stock worth $4,552,000 after buying an additional 3,360 shares during the period. Morgan Stanley increased its stake in Quanta Services by 245.9% in the first quarter. Morgan Stanley now owns 812,832 shares of the construction company’s stock worth $30,164,000 after buying an additional 577,842 shares during the period. Asset Management One Co. Ltd. increased its stake in Quanta Services by 52.6% in the first quarter. Asset Management One Co. Ltd. now owns 90,170 shares of the construction company’s stock worth $3,347,000 after buying an additional 31,070 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Quanta Services by 81.9% in the first quarter. Point72 Asset Management L.P. now owns 769,352 shares of the construction company’s stock worth $28,551,000 after buying an additional 346,352 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

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About Quanta Services

Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.

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