Yahoo Finance Earnings Growth & Price Strength Make Quanta Services (PWR) a Stock to Watch
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to Quanta Services (PWR)
Quanta is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. Quanta has operations in the United States, Canada, Australia and other selected international markets.
On December 23, 2021, PWR was added to the Zacks Focus List at $111.52 per share. Shares have increased 148.12% to $276.70 since then.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.12 to $8.44. PWR also boasts an average earnings surprise of 4.7%.
Moreover, analysts are expecting Quanta Services' earnings to grow 17.9% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like PWR, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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Quanta Services, Inc. (PWR) : Free Stock Analysis Report
