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Quanta Services (PWR) Dips More Than Broader Market: What You Should Know
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Quanta Services (PWR - Free Report) ended the recent trading session at $308.17, demonstrating a -0.55% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.56%.
The specialty contractor for utility and energy companies's shares have seen an increase of 4.56% over the last month, surpassing the Construction sector's loss of 2.06% and the S&P 500's gain of 1.39%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2024. The company's earnings per share (EPS) are projected to be $2.66, reflecting a 18.75% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.55 billion, indicating a 16.62% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $8.60 per share and a revenue of $23.83 billion, demonstrating changes of +20.11% and +14.12%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Quanta Services. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 shifted 0.06% upward. Quanta Services presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 36.04. Its industry sports an average Forward P/E of 23.17, so one might conclude that Quanta Services is trading at a premium comparatively.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quanta Services (PWR) Dips More Than Broader Market: What You Should Know
Quanta Services (PWR - Free Report) ended the recent trading session at $308.17, demonstrating a -0.55% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.56%.
The specialty contractor for utility and energy companies's shares have seen an increase of 4.56% over the last month, surpassing the Construction sector's loss of 2.06% and the S&P 500's gain of 1.39%.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2024. The company's earnings per share (EPS) are projected to be $2.66, reflecting a 18.75% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.55 billion, indicating a 16.62% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $8.60 per share and a revenue of $23.83 billion, demonstrating changes of +20.11% and +14.12%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Quanta Services. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 shifted 0.06% upward. Quanta Services presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Quanta Services is currently trading at a Forward P/E ratio of 36.04. Its industry sports an average Forward P/E of 23.17, so one might conclude that Quanta Services is trading at a premium comparatively.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.