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In the latest market close, Quanta Services (PWR) reached $337.46, with a +0.38% movement compared to the previous day. This change lagged the S&P 500's 1% gain on the day. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 1.51%.
Shares of the specialty contractor for utility and energy companies witnessed a gain of 4.22% over the previous month, beating the performance of the Construction sector with its loss of 3.14% and the S&P 500's loss of 2.14%.
The investment community will be closely monitoring the performance of Quanta Services in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.64, reflecting a 29.41% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.62 billion, reflecting a 14.46% rise from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Quanta Services. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.63% lower. Quanta Services currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Quanta Services has a Forward P/E ratio of 33.03 right now. This represents a premium compared to its industry's average Forward P/E of 19.71.
The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 145, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.