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

Quanta Services (NYSE:PWR) is set to post its quarterly earnings results before the market opens on Thursday, August 1st. Analysts expect Quanta Services to post earnings of $1.77 per share for the quarter. Quanta Services has set its FY24 guidance at $8.15-8.65 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. 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 1.8 %

Shares of PWR opened at $251.48 on Wednesday. The stock has a 50 day simple moving average of $266.25 and a 200-day simple moving average of $248.14. Quanta Services has a 1 year low of $153.74 and a 1 year high of $286.87. The stock has a market cap of $36.81 billion, a PE ratio of 48.74 and a beta of 1.03. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PWR shares. DA Davidson increased their price target on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. B. Riley upped their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup increased their price target on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Evercore ISI raised their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $273.75.

About Quanta Services

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.