$1.55 EPS Expected for Quanta Services, Inc. (NYSE:PWR) This Quarter

Wall Street brokerages forecast that Quanta Services, Inc. (NYSE:PWRGet Rating) will post earnings of $1.55 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Quanta Services’ earnings, with the lowest EPS estimate coming in at $1.41 and the highest estimate coming in at $1.67. Quanta Services reported earnings of $1.06 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 46.2%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Quanta Services will report full-year earnings of $6.31 per share for the current year, with EPS estimates ranging from $6.12 to $6.47. For the next year, analysts anticipate that the company will post earnings of $6.99 per share, with EPS estimates ranging from $6.67 to $7.45. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Quanta Services.

Quanta Services (NYSE:PWRGet Rating) last released its earnings results on Thursday, May 5th. The construction company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.17. Quanta Services had a return on equity of 14.98% and a net margin of 3.38%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 46.7% on a year-over-year basis.

Several research firms recently commented on PWR. UBS Group cut shares of Quanta Services from a “buy” rating to a “neutral” rating and raised their price target for the stock from $140.00 to $145.00 in a report on Wednesday, April 20th. Piper Sandler upped their price target on shares of Quanta Services from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. StockNews.com assumed coverage on Quanta Services in a research report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group upped their target price on Quanta Services from $127.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Finally, B. Riley boosted their price target on Quanta Services from $129.00 to $138.00 in a research note on Friday, May 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $136.55.

In other Quanta Services news, Director Bernard Fried sold 3,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 1,622 shares of Quanta Services stock in a transaction that occurred on 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 sold 21,034 shares of company stock valued at $2,378,756 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Standard Investments LLC bought a new position in shares of Quanta Services during the 3rd quarter worth about $175,624,000. JPMorgan Chase & Co. boosted its holdings in Quanta Services by 32.9% during the first quarter. JPMorgan Chase & Co. now owns 5,530,170 shares of the construction company’s stock valued at $727,826,000 after purchasing an additional 1,370,362 shares in the last quarter. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $150,058,000. Artisan Partners Limited Partnership acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $90,659,000. Finally, FIL Ltd bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $84,921,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.

Shares of NYSE PWR opened at $112.19 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74. Quanta Services has a one year low of $84.40 and a one year high of $140.04. The business has a 50-day moving average price of $125.32 and a two-hundred day moving average price of $115.46. The firm has a market capitalization of $16.12 billion, a PE ratio of 34.00 and a beta of 1.19.

The company also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Friday, April 8th. Quanta Services’s dividend payout ratio is 8.48%.

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.

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