Equities analysts expect Quanta Services Inc (NYSE:PWR) to announce sales of $2.31 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Quanta Services’ earnings. The highest sales estimate is $2.44 billion and the lowest is $2.11 billion. Quanta Services posted sales of $2.10 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is scheduled to issue its next earnings results on Tuesday, February 20th.

On average, analysts expect that Quanta Services will report full-year sales of $2.31 billion for the current financial year, with estimates ranging from $8.85 billion to $9.43 billion. For the next fiscal year, analysts expect that the business will post sales of $9.99 billion per share, with estimates ranging from $9.67 billion to $10.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Quanta Services.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. Quanta Services’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS.

Several equities analysts recently weighed in on PWR shares. Stifel Nicolaus restated a “buy” rating on shares of Quanta Services in a report on Thursday, December 14th. Robert W. Baird restated a “hold” rating and set a $39.00 target price on shares of Quanta Services in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, ValuEngine downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Quanta Services presently has an average rating of “Buy” and an average price target of $44.73.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Quanta Services in the 3rd quarter valued at about $111,000. Tower Research Capital LLC TRC boosted its holdings in shares of Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after buying an additional 2,190 shares during the period. Commonwealth Bank of Australia acquired a new position in shares of Quanta Services in the 2nd quarter valued at about $164,000. Intact Investment Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter valued at about $209,000. Finally, Maple Capital Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter valued at about $213,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Quanta Services (PWR) opened at $38.14 on Thursday. The firm has a market cap of $5,900.00, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20.

TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/11/2-31-billion-in-sales-expected-for-quanta-services-inc-pwr-this-quarter.html.

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.

Get a free copy of the Zacks research report on Quanta Services (PWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.