Quanta Services, Inc. (PWR) Issues Earnings Results, Beats Estimates By $0.02 EPS
Quanta Services, Inc. (NYSE:PWR) released its quarterly earnings data on Thursday. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02, Bloomberg Earnings reports. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. Quanta Services updated its FY17 guidance to $1.90-2.00 EPS.
Shares of Quanta Services (NYSE:PWR) traded down $0.90 during mid-day trading on Friday, hitting $35.66. 1,920,000 shares of the stock traded hands, compared to its average volume of 1,080,000. The stock has a market capitalization of $5,530.00, a P/E ratio of 19.14, a P/E/G ratio of 2.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.96 and a current ratio of 1.85. Quanta Services has a 52 week low of $27.73 and a 52 week high of $38.82.
In other news, Director John Michal Conaway sold 4,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $35.79, for a total value of $143,160.00. Following the completion of the sale, the director now owns 17,152 shares in the company, valued at $613,870.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the completion of the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock valued at $597,550. 0.70% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on PWR. Zacks Investment Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Robert W. Baird upped their price target on shares of Quanta Services from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. KeyCorp restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Friday. Credit Suisse Group restated a “buy” rating and issued a $46.00 price target on shares of Quanta Services in a research report on Wednesday, July 26th. Finally, Johnson Rice upgraded shares of Quanta Services from an “accumulate” rating to a “buy” rating and upped their price target for the company from $41.00 to $43.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $44.20.
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About Quanta Services
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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