Quanta Services, Inc. (PWR) Expected to Announce Quarterly Sales of $2.31 Billion

Wall Street brokerages predict that Quanta Services, Inc. (NYSE:PWR) will report $2.31 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Quanta Services’ earnings. The highest sales estimate is $2.44 billion and the lowest is $2.11 billion. Quanta Services posted sales of $2.10 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The firm is scheduled to issue its next earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that Quanta Services will report full-year sales of $2.31 billion for the current year, with estimates ranging from $8.85 billion to $9.43 billion. For the next year, analysts expect that the company will post sales of $9.97 billion per share, with estimates ranging from $9.67 billion to $10.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Quanta Services.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS.

A number of brokerages have recently weighed in on PWR. FBR & Co upgraded Quanta Services to an “outperform” rating and upped their target price for the company from $40.00 to $45.00 in a report on Wednesday, August 9th. BidaskClub upgraded Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a report on Friday, August 4th. Finally, Robert W. Baird downgraded Quanta Services from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $41.00 to $38.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.55.

Quanta Services (NYSE PWR) opened at $36.01 on Monday. The firm has a market capitalization of $5,571.50, a PE ratio of 18.85, a PEG ratio of 2.54 and a beta of 0.87. Quanta Services has a twelve month low of $30.23 and a twelve month high of $38.82. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20.

In other Quanta Services news, Director Patrick Wood III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the sale, the director now owns 7,506 shares of the company’s stock, valued at $259,032.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now directly 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. 0.75% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new stake in Quanta Services during the third quarter worth approximately $111,000. Tower Research Capital LLC TRC boosted its position in shares of Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after acquiring an additional 2,190 shares during the period. Bessemer Group Inc. boosted its position in shares of Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after acquiring an additional 840 shares during the period. Commonwealth Bank of Australia bought a new stake in shares of Quanta Services in the second quarter valued at approximately $164,000. Finally, Thrivent Financial For Lutherans bought a new stake in shares of Quanta Services in the first quarter valued at approximately $206,000. 85.39% of the stock is owned by hedge funds and other institutional investors.

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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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