Yahoo Finance Quanta Services (PWR) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Quanta Services (PWR) standing at $276.70, reflecting a -0.03% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.23%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.34%.
Prior to today's trading, shares of the specialty contractor for utility and energy companies had gained 2.22% over the past month. This has outpaced the Construction sector's loss of 3.41% and lagged the S&P 500's gain of 3.96% in that time.
Investors will be eagerly watching for the performance of Quanta Services in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.87, showcasing a 13.33% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.52 billion, reflecting a 9.43% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $8.44 per share and a revenue of $22.65 billion, demonstrating changes of +17.88% and +8.48%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Quanta Services. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.17% higher within the past month. Right now, Quanta Services possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 32.78 right now. This represents a premium compared to its industry's average Forward P/E of 19.17.
The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 43, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quanta Services, Inc. (PWR) : Free Stock Analysis Report
