Research Analysts’ Recent Ratings Updates for Quanta Services (PWR)
Quanta Services (NYSE: PWR) recently received a number of ratings updates from brokerages and research firms:
- 10/11/2017 – Quanta Services had its “buy” rating reaffirmed by analysts at Seaport Global Securities. They now have a $45.00 price target on the stock.
- 10/10/2017 – Quanta Services was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 10/9/2017 – Quanta Services was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Quanta Services has a dreadful earnings history – with three consecutive earnings misses over the trailing four quarters. Lack of a commissioner quorum in Federal Energy Regulatory Commission (“FERC”) has put up a lot of major projects on hold, adding to the company’ woes. In addition, seasonality and the cancellation of pipeline projects in the oil and gas business are likely to impact the company’s backlog. Also, intensifying competition in the industry and currency fluctuations are affecting the company’s profits. However, over the past one year, shares of Quanta Services have outperformed that of the industry. The company remains confident about the prospects of its end markets over the next two years. The company believes CAPEX and OPEX spends will continue to rise as customers are contemplating undertaking work worth billions of dollars.”
- 10/6/2017 – Quanta Services had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $39.00 price target on the stock.
- 9/7/2017 – Quanta Services had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $45.00 price target on the stock.
- 8/18/2017 – Quanta Services was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $40.00 price target on the stock.
- 8/18/2017 – Quanta Services was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
Quanta Services, Inc. (NYSE:PWR) opened at 37.50 on Friday. The stock’s 50 day moving average price is $36.56 and its 200 day moving average price is $34.49. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 21.32 and a beta of 0.83. Quanta Services, Inc. has a 12-month low of $27.29 and a 12-month high of $38.82.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The firm’s revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. Analysts forecast that Quanta Services, Inc. will post $2.03 EPS for the current fiscal year.
In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now directly owns 34,797 shares in the company, valued at $1,223,114.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Wood III sold 4,000 shares of the 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 transaction, the director now owns 7,506 shares in the company, valued at $259,032.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,000 shares of company stock worth $597,550. Corporate insiders own 0.70% of the company’s stock.
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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