Quanta Services (NYSE:PWR – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $8.32-8.87 for the period, compared to the consensus earnings per share estimate of $8.50. The company issued revenue guidance of $23.5-24.1 billion, compared to the consensus revenue estimate of $23.06 billion. Quanta Services also updated its FY 2024 guidance to 8.320-8.870 EPS.
Wall Street Analyst Weigh In
Several research firms have issued reports on PWR. The Goldman Sachs Group upped their price target on Quanta Services from $259.00 to $286.00 and gave the company a buy rating in a report on Tuesday, May 28th. Robert W. Baird upped their price target on Quanta Services from $287.00 to $288.00 and gave the company an outperform rating in a report on Friday, July 19th. Truist Financial reissued a buy rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Evercore ISI boosted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an outperform rating in a research note on Tuesday, May 7th. Finally, Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a buy rating in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $273.75.
Check Out Our Latest Stock Analysis on PWR
Quanta Services Trading Down 0.8 %
Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. As a group, sell-side analysts anticipate that Quanta Services will post 7.69 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.
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.
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