Quanta Services (PWR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Quanta Services (NYSE:PWR) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Quanta Services has a dreadful earnings history – with three consecutive earnings misses over the trailing four quarters. Current volatility in the oil and gas market, along with reduced consumer spending, has been affecting the company’s projects and orders. In addition, seasonality and the cancellation of pipeline projects in the oil and gas business are likely to impact the company’s backlog. Also, intensifying competition in the industry and currency fluctuations is affecting the company’s profits. Moreover, shares of Quanta Services have underperformed that of the industry, in the last three months. However, the company remains confident about the prospects of its end markets over the next two years. The company also believes CAPEX and OPEX spends will continue to rise as customers are contemplating undertaking work worth billions of dollars.”

Other research analysts also recently issued research reports about the stock. B. Riley increased their price objective on shares of Quanta Services from $45.00 to $48.00 and gave the company a buy rating in a report on Tuesday, November 7th. KeyCorp reissued a buy rating and set a $45.00 price objective on shares of Quanta Services in a report on Friday, November 3rd. ValuEngine downgraded shares of Quanta Services from a buy rating to a hold rating in a report on Tuesday, October 10th. Citigroup set a $47.00 price objective on shares of Quanta Services and gave the company a buy rating in a report on Friday, October 27th. Finally, Seaport Global Securities reissued a buy rating and set a $45.00 price objective (up previously from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $44.73.

Shares of Quanta Services (NYSE PWR) traded down $0.41 during mid-day trading on Monday, reaching $39.10. The company’s stock had a trading volume of 1,322,800 shares, compared to its average volume of 1,163,640. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The stock has a market cap of $6,030.00, a price-to-earnings ratio of 21.14, a PEG ratio of 2.16 and a beta of 0.87.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 27.8% on a year-over-year basis. equities analysts anticipate that Quanta Services will post 1.77 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,732,602 shares of the construction company’s stock valued at $484,998,000 after acquiring an additional 511,917 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Quanta Services by 1.3% in the 2nd quarter. BlackRock Inc. now owns 8,465,126 shares of the construction company’s stock valued at $278,671,000 after acquiring an additional 105,066 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Quanta Services by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock valued at $183,515,000 after acquiring an additional 212,294 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Quanta Services by 17.5% in the 3rd quarter. Jennison Associates LLC now owns 2,422,833 shares of the construction company’s stock valued at $90,541,000 after acquiring an additional 360,803 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Quanta Services by 6.4% in the 2nd quarter. Voya Investment Management LLC now owns 2,365,961 shares of the construction company’s stock valued at $77,888,000 after acquiring an additional 141,477 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

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Quanta Services Company Profile

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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