The latest trading session saw Quanta Services (PWR) ending at $245.05, denoting a -0.06% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.57%. On the other hand, the Dow registered a loss of 0.84%, and the technology-centric Nasdaq decreased by 2.15%.
The specialty contractor for utility and energy companies's shares have seen an increase of 3.59% over the last month, surpassing the Construction sector's loss of 11.78% and the S&P 500's loss of 12.16%.
The investment community will be closely monitoring the performance of Quanta Services in its forthcoming earnings report. On that day, Quanta Services is projected to report earnings of $1.72 per share, which would represent year-over-year growth of 21.99%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.89 billion, indicating a 16.98% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $10.18 per share and a revenue of $26.9 billion, demonstrating changes of +13.49% and +13.63%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Right now, Quanta Services possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Quanta Services currently has a Forward P/E ratio of 24.1. Its industry sports an average Forward P/E of 14.19, so one might conclude that Quanta Services is trading at a premium comparatively.
Also, we should mention that PWR has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Engineering - R and D Services industry held an average PEG ratio of 1.08.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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, Inc. (PWR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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