Quanta Services (NYSE:PWR – Get Rating) is set to post its quarterly earnings results before the market opens on Thursday, May 5th. Analysts expect Quanta Services to post earnings of $1.16 per share for the quarter. Quanta Services has set its FY 2022 guidance at $6.000-$6.500 EPS and its FY22 guidance at $6.00-6.50 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Quanta Services (NYSE:PWR – Get Rating) last issued its earnings results on Thursday, February 24th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. Quanta Services had a net margin of 3.74% and a return on equity of 13.85%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the business earned $1.04 earnings per share. The business’s revenue was up 34.7% on a year-over-year basis. On average, analysts expect Quanta Services to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of Quanta Services stock opened at $117.80 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 1.50. Quanta Services has a 52-week low of $84.40 and a 52-week high of $140.04. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 35.16 and a beta of 1.17. The company’s 50 day moving average price is $123.33 and its 200-day moving average price is $115.52.
Several analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Quanta Services in a report on Thursday, March 31st. They issued a “hold” rating on the stock. UBS Group cut shares of Quanta Services from a “buy” rating to a “neutral” rating and lifted their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 20th. KeyCorp lifted their price target on shares of Quanta Services from $129.00 to $156.00 in a report on Thursday, April 14th. Piper Sandler lifted their price target on shares of Quanta Services from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, April 6th. Finally, B. Riley upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $122.00 to $129.00 in a report on Tuesday, March 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $135.73.
In other news, Director Bernard Fried sold 3,000 shares of Quanta Services stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $112.61, for a total value of $337,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Wayne sold 1,622 shares of Quanta Services stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $109.52, for a total value of $177,641.44. The disclosure for this sale can be found here. Insiders have sold 21,034 shares of company stock valued at $2,378,756 in the last three months. Insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its stake in Quanta Services by 117.3% during the 2nd quarter. Morgan Stanley now owns 754,627 shares of the construction company’s stock valued at $68,346,000 after acquiring an additional 407,330 shares during the period. Parametric Portfolio Associates LLC lifted its stake in Quanta Services by 3.1% during the 4th quarter. Parametric Portfolio Associates LLC now owns 584,289 shares of the construction company’s stock valued at $66,995,000 after acquiring an additional 17,572 shares during the period. Barclays PLC lifted its stake in Quanta Services by 26.1% during the 4th quarter. Barclays PLC now owns 115,249 shares of the construction company’s stock valued at $13,215,000 after acquiring an additional 23,830 shares during the period. Marshall Wace LLP bought a new position in Quanta Services during the 4th quarter valued at about $4,300,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in Quanta Services by 20.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 16,105 shares of the construction company’s stock valued at $1,847,000 after acquiring an additional 2,685 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.
About Quanta Services (Get Rating)
Quanta Services, Inc provides specialty contracting services worldwide. The Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; energized installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.
- Get a free copy of the StockNews.com research report on Quanta Services (PWR)
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