News

In the latest trading session, Quanta Services (PWR) closed at $254.66, marking a +0.84% move from the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq appreciated by 0.28%.

The the stock of specialty contractor for utility and energy companies has fallen by 6.23% in the past month, lagging the Construction sector's loss of 5.3% and the S&P 500's gain of 4.08%.

The investment community will be paying close attention to the earnings performance of Quanta Services in its upcoming release. It is anticipated that the company will report an EPS of $1.95, marking a 18.18% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.52 billion, indicating a 9.43% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.44 per share and a revenue of $22.65 billion, indicating changes of +17.88% and +8.48%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Quanta Services. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Quanta Services possesses a Zacks Rank of #2 (Buy).

Looking at valuation, Quanta Services is presently trading at a Forward P/E ratio of 29.91. This denotes a premium relative to the industry's average Forward P/E of 19.66.

The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.