Quanta Services (PWR) Set to Announce Earnings on Thursday

Quanta Services (NYSE:PWR) will issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.11 per share for the quarter. Quanta Services has set its FY 2024 guidance at 8.000-8.500 EPS and its FY24 guidance at $8.00-8.50 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm earned $1.54 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. On average, analysts expect Quanta Services to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Quanta Services Stock Up 0.5 %

PWR opened at $253.09 on Thursday. The company has a market capitalization of $37.05 billion, a PE ratio of 50.54 and a beta of 1.11. Quanta Services has a 1-year low of $153.74 and a 1-year high of $265.82. The firm’s 50 day simple moving average is $244.27 and its two-hundred day simple moving average is $210.41. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

Insiders Place Their Bets

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. DA Davidson raised their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Truist Financial assumed coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's 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; 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.