Wall Street brokerages expect that Quanta Services Inc (NYSE:PWR) will post earnings of $1.03 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Quanta Services’ earnings. The highest EPS estimate is $1.10 and the lowest is $0.96. Quanta Services reported earnings of $0.63 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 63.5%. The company is expected to announce its next earnings results on Thursday, November 1st.

On average, analysts expect that Quanta Services will report full year earnings of $2.76 per share for the current fiscal year, with EPS estimates ranging from $2.64 to $2.84. For the next year, analysts expect that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.15 to $3.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Quanta Services.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 2nd. The construction company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.51 billion. Quanta Services had a return on equity of 7.72% and a net margin of 3.10%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share.

A number of brokerages have recently commented on PWR. B. Riley increased their price objective on Quanta Services from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Cfra reiterated a “buy” rating and set a $40.00 price objective on shares of Quanta Services in a research report on Thursday, September 6th. Finally, ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Quanta Services presently has an average rating of “Buy” and a consensus price target of $45.73.

Several large investors have recently made changes to their positions in PWR. Alpine Woods Capital Investors LLC raised its stake in Quanta Services by 15.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,500 shares of the construction company’s stock valued at $684,000 after purchasing an additional 1,500 shares during the period. Peddock Capital Advisors LLC raised its stake in Quanta Services by 7.8% during the 2nd quarter. Peddock Capital Advisors LLC now owns 21,388 shares of the construction company’s stock valued at $714,000 after purchasing an additional 1,542 shares during the period. Maple Capital Management Inc. raised its stake in Quanta Services by 25.6% during the 1st quarter. Maple Capital Management Inc. now owns 7,612 shares of the construction company’s stock valued at $261,000 after purchasing an additional 1,550 shares during the period. Norinchukin Bank The raised its stake in Quanta Services by 13.9% during the 1st quarter. Norinchukin Bank The now owns 14,089 shares of the construction company’s stock valued at $484,000 after purchasing an additional 1,719 shares during the period. Finally, Ramsey Quantitative Systems raised its stake in Quanta Services by 20.2% during the 2nd quarter. Ramsey Quantitative Systems now owns 10,375 shares of the construction company’s stock valued at $347,000 after purchasing an additional 1,741 shares during the period. Institutional investors own 85.13% of the company’s stock.

Shares of NYSE:PWR traded up $0.08 on Friday, reaching $34.56. 772,200 shares of the company traded hands, compared to its average volume of 1,397,283. Quanta Services has a fifty-two week low of $32.19 and a fifty-two week high of $40.10. The company has a market capitalization of $5.23 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.77 and a current ratio of 1.82.

Quanta Services announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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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