Yahoo Finance Earnings Growth & Price Strength Make Quanta Services (PWR) a Stock to Watch
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
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.
Since being added to the Zacks Focus List on December 23, 2021 at $111.52 per share, shares of PWR have increased 143.44% to $271.48.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.12 to $8.42. PWR boasts an average earnings surprise of 4.7%.
Earnings for Quanta Services are forecasted to see growth of 17.6% for the current fiscal year as well.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like PWR, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Quanta Services, Inc. (PWR) : Free Stock Analysis Report
