In the latest market close, Quanta Services (PWR) reached $317.64, with a +1.07% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.18% for the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.

The specialty contractor for utility and energy companies's stock has climbed by 8.04% in the past month, exceeding the Construction sector's loss of 3.59% and the S&P 500's gain of 4.46%.

Market participants will be closely following the financial results of Quanta Services in its upcoming release. The company plans to announce its earnings on October 31, 2024. The company's earnings per share (EPS) are projected to be $2.66, reflecting a 18.75% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.55 billion, up 16.62% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.60 per share and a revenue of $23.83 billion, indicating changes of +20.11% and +14.12%, respectively, from the former year.

Any recent changes to analyst estimates for Quanta Services should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.06% 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 36.56 right now. This indicates a premium in contrast to its industry's Forward P/E of 21.85.

The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.

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