Wall Street brokerages forecast that Quanta Services Inc (NYSE:PWR) will post sales of $2.34 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for Quanta Services’ earnings, with the lowest sales estimate coming in at $2.30 billion and the highest estimate coming in at $2.44 billion. Quanta Services reported sales of $2.10 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.4%. The firm is scheduled to report its next earnings results before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Quanta Services will report full year sales of $2.34 billion for the current financial year, with estimates ranging from $9.29 billion to $9.43 billion. For the next financial year, analysts expect that the firm will report sales of $10.04 billion per share, with estimates ranging from $9.87 billion to $10.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Quanta Services.
Several research analysts recently weighed in on the company. B. Riley upped their price target on Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, February 9th. Citigroup upped their price target on Quanta Services from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Stephens reissued a “buy” rating and set a $49.00 price target on shares of Quanta Services in a research report on Wednesday, January 31st. Finally, KeyCorp reissued a “buy” rating and set a $46.00 price target on shares of Quanta Services in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.33.
Quanta Services (PWR) traded up $0.24 during trading hours on Wednesday, reaching $35.07. The company had a trading volume of 1,123,500 shares, compared to its average volume of 1,461,070. The firm has a market capitalization of $5,430.00, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. Quanta Services has a 52-week low of $30.23 and a 52-week high of $40.10. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20.
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About Quanta Services
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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