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Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Quanta Services (PWR - Free Report) closed at $249.10, marking a +1.25% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.49% for the day. Elsewhere, the Dow saw a downswing of 0.2%, while the tech-heavy Nasdaq appreciated by 1.22%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 18.75% over the past month, lagging the Construction sector's loss of 9.25% and the S&P 500's loss of 8.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Quanta Services in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.71, signifying a 21.28% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.9 billion, showing a 17.19% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $10.17 per share and a revenue of $26.9 billion, demonstrating changes of +13.38% and +13.64%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.4% upward. At present, Quanta Services boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 24.2 right now. This denotes a premium relative to the industry's average Forward P/E of 16.32.
It's also important to note that PWR currently trades at a PEG ratio of 1.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Engineering - R and D Services industry held an average PEG ratio of 1.21.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Quanta Services (PWR - Free Report) closed at $249.10, marking a +1.25% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.49% for the day. Elsewhere, the Dow saw a downswing of 0.2%, while the tech-heavy Nasdaq appreciated by 1.22%.
Heading into today, shares of the specialty contractor for utility and energy companies had lost 18.75% over the past month, lagging the Construction sector's loss of 9.25% and the S&P 500's loss of 8.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Quanta Services in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.71, signifying a 21.28% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.9 billion, showing a 17.19% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $10.17 per share and a revenue of $26.9 billion, demonstrating changes of +13.38% and +13.64%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.4% upward. At present, Quanta Services boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 24.2 right now. This denotes a premium relative to the industry's average Forward P/E of 16.32.
It's also important to note that PWR currently trades at a PEG ratio of 1.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Engineering - R and D Services industry held an average PEG ratio of 1.21.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.