$2.34 Billion in Sales Expected for Quanta Services Inc (PWR) This Quarter

Equities analysts predict that Quanta Services Inc (NYSE:PWR) will report $2.34 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Quanta Services’ earnings, with estimates ranging from $2.30 billion to $2.44 billion. Quanta Services reported sales of $2.10 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The company is expected to issue its next earnings report before the market opens on Thursday, February 22nd.

According to Zacks, analysts expect that Quanta Services will report full-year sales of $2.34 billion for the current year, with estimates ranging from $9.29 billion to $9.43 billion. For the next financial year, analysts forecast that the company will report sales of $10.03 billion per share, with estimates ranging from $9.87 billion to $10.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Quanta Services.

Several analysts have recently commented on the company. B. Riley increased their price objective on Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Citigroup increased their price objective on Quanta Services from $47.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Friday, February 9th. Stephens reiterated a “buy” rating and set a $49.00 price objective on shares of Quanta Services in a report on Wednesday, January 31st. Finally, KeyCorp reiterated a “buy” rating and set a $46.00 price objective on shares of Quanta Services in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. Quanta Services has an average rating of “Buy” and a consensus target price of $45.33.

Shares of Quanta Services (NYSE PWR) opened at $33.72 on Wednesday. Quanta Services has a twelve month low of $30.23 and a twelve month high of $40.10. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5,260.00, a price-to-earnings ratio of 18.23, a PEG ratio of 1.72 and a beta of 0.79.

A number of hedge funds have recently modified their holdings of PWR. FMR LLC raised its stake in Quanta Services by 14.8% in the 2nd quarter. FMR LLC now owns 446,644 shares of the construction company’s stock worth $14,703,000 after acquiring an additional 57,431 shares during the last quarter. Employees Retirement System of Texas raised its stake in Quanta Services by 92.9% in the 2nd quarter. Employees Retirement System of Texas now owns 27,000 shares of the construction company’s stock worth $889,000 after acquiring an additional 13,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Quanta Services by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 176,231 shares of the construction company’s stock worth $5,802,000 after acquiring an additional 6,779 shares during the last quarter. Nomura Holdings Inc. raised its stake in Quanta Services by 7.6% in the 2nd quarter. Nomura Holdings Inc. now owns 11,280 shares of the construction company’s stock worth $371,000 after acquiring an additional 794 shares during the last quarter. Finally, Scotia Capital Inc. purchased a new position in Quanta Services in the 2nd quarter worth $314,000. Institutional investors own 85.66% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/14/2-34-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.

Leave a Reply