Analysts Expect Quanta Services, Inc. (PWR) to Post $0.59 Earnings Per Share
Wall Street analysts expect Quanta Services, Inc. (NYSE:PWR) to post earnings per share of $0.59 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Quanta Services’ earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.65. Quanta Services posted earnings of $0.55 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Quanta Services will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.98 to $2.04. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.45 per share, with EPS estimates ranging from $2.30 to $2.73. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Quanta Services.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS.
A number of research analysts have issued reports on the company. FBR & Co raised Quanta Services to an “outperform” rating and lifted their price objective for the company from $40.00 to $45.00 in a report on Wednesday, August 9th. BidaskClub raised Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Friday, August 4th. Finally, UBS AG raised Quanta Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $42.00 in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Quanta Services has an average rating of “Buy” and a consensus price target of $41.44.
In related news, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total value of $138,040.00. Following the completion of the transaction, the director now directly owns 7,506 shares of the company’s stock, valued at $259,032.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the transaction, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock valued at $597,550 over the last ninety days. 0.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in PWR. Tower Research Capital LLC TRC increased its position in Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,190 shares during the period. Segantii Capital Management Ltd acquired a new stake in Quanta Services in the first quarter worth about $115,000. Ameritas Investment Partners Inc. acquired a new stake in Quanta Services in the first quarter worth about $134,000. Bessemer Group Inc. increased its position in Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares during the period. Finally, Commonwealth Bank of Australia acquired a new stake in Quanta Services in the second quarter worth about $164,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.
Quanta Services (PWR) traded up 0.70% during trading on Thursday, hitting $37.23. 345,614 shares of the stock traded hands. The company has a 50-day moving average price of $35.47 and a 200 day moving average price of $34.41. The stock has a market cap of $5.78 billion, a PE ratio of 21.17 and a beta of 0.83. Quanta Services has a one year low of $24.88 and a one year high of $38.82.
Quanta Services declared that its board has initiated a share buyback plan on Thursday, May 25th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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