Quanta Services, Inc. (PWR) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Quanta Services, Inc. (NYSE:PWR) issued its quarterly earnings data on Wednesday. The construction company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02, Bloomberg Earnings reports. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS.
In other news, Director John Michal Conaway sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $35.79, for a total transaction of $143,160.00. Following the transaction, the director now owns 17,152 shares in the company, valued at $613,870.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock worth $597,550 in the last ninety days. Insiders own 0.70% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/11/02/quanta-services-inc-pwr-issues-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.
Several brokerages recently commented on PWR. Zacks Investment Research downgraded Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Citigroup Inc. set a $47.00 price objective on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $39.00 price objective on shares of Quanta Services in a research note on Friday, October 6th. ValuEngine downgraded Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.10.
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.
Receive News & Ratings for Quanta Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.