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In the latest trading session, Quanta Services (PWR) closed at $354.75, marking a -0.72% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.22%.
Shares of the specialty contractor for utility and energy companies have appreciated by 8.02% over the course of the past month, outperforming the Construction sector's gain of 4.6% and the S&P 500's gain of 2.69%.
The upcoming earnings release of Quanta Services will be of great interest to investors. It is anticipated that the company will report an EPS of $2.64, marking a 29.41% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.62 billion, indicating a 14.46% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate has moved 0.63% lower. As of now, Quanta Services holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Quanta Services is holding a Forward P/E ratio of 35.1. For comparison, its industry has an average Forward P/E of 19.69, which means Quanta Services is trading at a premium to the group.
The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 198, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.