Quanta Services, Inc. (NYSE:PWR) announced its quarterly earnings data on Thursday. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02, Bloomberg Earnings reports. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. Quanta Services updated its FY17 guidance to $1.90-2.00 EPS.
Shares of Quanta Services (PWR) traded down $0.90 during trading on Friday, hitting $35.66. 1,920,000 shares of the company traded hands, compared to its average volume of 1,080,000. The company has a current ratio of 1.85, a quick ratio of 1.96 and a debt-to-equity ratio of 0.20. Quanta Services has a one year low of $27.73 and a one year high of $38.82. The company has a market capitalization of $5,530.00, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87.
Several brokerages have recently issued reports on PWR. KeyCorp reiterated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday. Robert W. Baird upped their price target on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup Inc set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 27th. Zacks Investment Research downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.20.
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In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Wood III sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the sale, the director now directly owns 7,506 shares in the company, valued at approximately $259,032.06. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock worth $597,550. 0.70% of the stock is currently owned by insiders.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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