Quanta Services Inc (NYSE:PWR) Expected to Post Quarterly Sales of $3.15 Billion

Wall Street analysts forecast that Quanta Services Inc (NYSE:PWR) will report $3.15 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Quanta Services’ earnings. The highest sales estimate is $3.22 billion and the lowest is $3.08 billion. Quanta Services posted sales of $2.99 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The firm is expected to issue its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Quanta Services will report full year sales of $11.65 billion for the current year, with estimates ranging from $11.57 billion to $11.72 billion. For the next financial year, analysts forecast that the business will report sales of $12.13 billion, with estimates ranging from $11.97 billion to $12.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Quanta Services.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.45). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.89 billion. Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS.

A number of research firms have issued reports on PWR. Citigroup increased their price target on Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Quanta Services presently has a consensus rating of “Hold” and an average target price of $43.00.

Shares of Quanta Services stock traded up $0.05 on Thursday, hitting $32.46. The stock had a trading volume of 1,372,100 shares, compared to its average volume of 1,410,087. The firm has a market capitalization of $4.73 billion, a P/E ratio of 12.83 and a beta of 1.17. The stock has a 50 day moving average of $36.72 and a 200 day moving average of $37.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.93 and a current ratio of 1.97. Quanta Services has a twelve month low of $27.90 and a twelve month high of $41.00.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Quanta Services by 23.9% during the 2nd quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after acquiring an additional 2,091,884 shares during the last quarter. Greenhaven Associates Inc. grew its stake in Quanta Services by 2.1% in the first quarter. Greenhaven Associates Inc. now owns 2,786,550 shares of the construction company’s stock worth $105,164,000 after purchasing an additional 56,000 shares during the period. Invesco Ltd. grew its stake in Quanta Services by 3.3% in the second quarter. Invesco Ltd. now owns 2,220,654 shares of the construction company’s stock worth $84,806,000 after purchasing an additional 70,462 shares during the period. Jennison Associates LLC grew its stake in Quanta Services by 8.2% in the first quarter. Jennison Associates LLC now owns 2,209,785 shares of the construction company’s stock worth $83,397,000 after purchasing an additional 166,566 shares during the period. Finally, Geode Capital Management LLC grew its stake in Quanta Services by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock worth $62,379,000 after purchasing an additional 105,481 shares during the period. 87.61% of the stock is owned by institutional investors and hedge funds.

About Quanta Services

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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