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Quanta Services (PWR) Gains As Market Dips: What You Should Know
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Quanta Services (PWR - Free Report) closed the most recent trading day at $290.89, moving +0.4% from the previous trading session. This change outpaced the S&P 500's 0.19% loss on the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.36%.
Shares of the specialty contractor for utility and energy companies have appreciated by 8.19% over the course of the past month, outperforming the Construction sector's gain of 8.17% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.70, marking a 20.54% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.56 billion, reflecting a 16.67% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.59 per share and a revenue of $23.84 billion, signifying shifts of +19.97% and +14.15%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
Digging into valuation, Quanta Services currently has a Forward P/E ratio of 33.71. For comparison, its industry has an average Forward P/E of 22.02, which means Quanta Services is trading at a premium to the group.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Quanta Services (PWR) Gains As Market Dips: What You Should Know
Quanta Services (PWR - Free Report) closed the most recent trading day at $290.89, moving +0.4% from the previous trading session. This change outpaced the S&P 500's 0.19% loss on the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.36%.
Shares of the specialty contractor for utility and energy companies have appreciated by 8.19% over the course of the past month, outperforming the Construction sector's gain of 8.17% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.70, marking a 20.54% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.56 billion, reflecting a 16.67% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.59 per share and a revenue of $23.84 billion, signifying shifts of +19.97% and +14.15%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
Digging into valuation, Quanta Services currently has a Forward P/E ratio of 33.71. For comparison, its industry has an average Forward P/E of 22.02, which means Quanta Services is trading at a premium to the group.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.