Quanta Services (NYSE:PWR) Issues FY 2022 Earnings Guidance

Quanta Services (NYSE:PWRGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $6.00-$6.50 for the period, compared to the consensus EPS estimate of $6.28. The company issued revenue guidance of $16.20 billion-$16.70 billion, compared to the consensus revenue estimate of $16.22 billion.

Several analysts recently commented on the company. KeyCorp lifted their price objective on Quanta Services from $129.00 to $156.00 in a report on Thursday, April 14th. Piper Sandler lifted their price objective on Quanta Services from $144.00 to $150.00 and gave the stock an overweight rating in a report on Wednesday, April 6th. B. Riley lifted their price objective on Quanta Services from $129.00 to $138.00 in a report on Friday, May 6th. StockNews.com assumed coverage on Quanta Services in a report on Thursday, March 31st. They issued a hold rating for the company. Finally, The Goldman Sachs Group lifted their price objective on Quanta Services from $127.00 to $143.00 and gave the stock a buy rating in a report on Thursday, April 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $136.55.

NYSE:PWR opened at $108.76 on Thursday. The stock has a 50-day simple moving average of $125.33 and a two-hundred day simple moving average of $115.70. Quanta Services has a 52-week low of $84.40 and a 52-week high of $140.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.51. The firm has a market capitalization of $15.52 billion, a PE ratio of 32.96 and a beta of 1.19.

Quanta Services (NYSE:PWRGet Rating) last released its quarterly earnings results on Thursday, May 5th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Quanta Services had a return on equity of 14.98% and a net margin of 3.38%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Quanta Services’s revenue for the quarter was up 46.7% on a year-over-year basis. Equities analysts forecast that Quanta Services will post 5.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were given a $0.07 dividend. The ex-dividend date was Friday, April 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Quanta Services’s payout ratio is 8.48%.

In related news, EVP Donald Wayne sold 1,622 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bernard Fried sold 3,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold 21,034 shares of company stock worth $2,378,756 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth about $86,000. Toroso Investments LLC lifted its position in shares of Quanta Services by 13.8% in the fourth quarter. Toroso Investments LLC now owns 2,396 shares of the construction company’s stock worth $275,000 after buying an additional 291 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Quanta Services by 42.0% in the fourth quarter. Synovus Financial Corp now owns 3,103 shares of the construction company’s stock worth $354,000 after buying an additional 918 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Quanta Services in the fourth quarter worth about $374,000. Finally, Vident Investment Advisory LLC increased its stake in Quanta Services by 41.5% during the fourth quarter. Vident Investment Advisory LLC now owns 8,884 shares of the construction company’s stock worth $1,019,000 after acquiring an additional 2,607 shares during the last quarter. Institutional investors own 87.16% of the company’s stock.

Quanta Services Company Profile (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.

See Also

Earnings History and Estimates for Quanta Services (NYSE:PWR)

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