Quanta Services (PWR) Set to Announce Quarterly Earnings on Thursday

Quanta Services (NYSE:PWR) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.11 per share for the quarter. Quanta Services has set its FY 2024 guidance at 8.000-8.500 EPS and its FY24 guidance at $8.00-8.50 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $1.54 EPS. The firm’s revenue was up 31.0% compared to the same quarter last year. On average, analysts expect Quanta Services to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Quanta Services Trading Down 1.4 %

NYSE:PWR opened at $258.54 on Wednesday. The company has a fifty day moving average of $248.91 and a 200 day moving average of $213.29. Quanta Services has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $37.85 billion, a P/E ratio of 51.60 and a beta of 1.11.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PWR shares. Evercore ISI started coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. TD Cowen boosted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Truist Financial started coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Finally, KeyCorp started coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.