Research Analysts Set Expectations for Quanta Services Inc’s Q1 2019 Earnings (PWR)

Quanta Services Inc (NYSE:PWR) – B. Riley issued their Q1 2019 EPS estimates for Quanta Services in a report issued on Monday, March 11th. B. Riley analyst A. Rygiel expects that the construction company will post earnings per share of $0.73 for the quarter. B. Riley has a “Buy” rating and a $47.00 price target on the stock. B. Riley also issued estimates for Quanta Services’ Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $0.91 EPS, FY2019 earnings at $3.26 EPS and FY2020 earnings at $3.18 EPS.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 21st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis.

A number of other equities analysts also recently issued reports on the company. Citigroup set a $46.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, February 22nd. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Finally, Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price target on the stock in a research report on Monday, February 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Quanta Services has a consensus rating of “Buy” and a consensus price target of $42.60.

Shares of PWR opened at $36.62 on Thursday. Quanta Services has a 52 week low of $27.90 and a 52 week high of $37.44. The company has a current ratio of 1.84, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.12 billion, a PE ratio of 14.47, a P/E/G ratio of 1.40 and a beta of 1.04.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter valued at $43,421,000. NWQ Investment Management Company LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth $39,460,000. Prudential Financial Inc. lifted its stake in shares of Quanta Services by 368.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,001,546 shares of the construction company’s stock worth $33,432,000 after purchasing an additional 787,771 shares during the period. Peconic Partners LLC lifted its stake in shares of Quanta Services by 20.1% during the 4th quarter. Peconic Partners LLC now owns 3,690,373 shares of the construction company’s stock worth $111,080,000 after purchasing an additional 618,459 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Quanta Services by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,612,780 shares of the construction company’s stock worth $199,045,000 after purchasing an additional 396,564 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

In other news, EVP Donald Wayne sold 1,295 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.09, for a total value of $46,736.55. Following the transaction, the executive vice president now owns 30,054 shares in the company, valued at $1,084,648.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Derrick A. Jensen bought 8,560 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The stock was purchased at an average price of $29.11 per share, for a total transaction of $249,181.60. Following the transaction, the chief financial officer now owns 250,603 shares of the company’s stock, valued at $7,295,053.33. The disclosure for this purchase can be found here. Insiders have acquired 52,060 shares of company stock worth $1,538,702 in the last quarter. 0.74% of the stock is currently owned by company insiders.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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