Quanta Services (NYSE:PWR) released its earnings results on Thursday. The construction company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01, Bloomberg Earnings reports. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. Quanta Services updated its FY18 guidance to $2.40-2.80 EPS.
Quanta Services (NYSE PWR) opened at $35.67 on Friday. Quanta Services has a 12-month low of $30.23 and a 12-month high of $40.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.92. The stock has a market capitalization of $5,554.48, a price-to-earnings ratio of 17.84, a PEG ratio of 1.84 and a beta of 0.79.
PWR has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of Quanta Services in a research note on Thursday, December 14th. KeyCorp reiterated a “buy” rating and issued a $46.00 target price on shares of Quanta Services in a research note on Wednesday, November 29th. B. Riley increased their target price on Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, February 9th. Finally, Citigroup increased their target price on Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Quanta Services currently has an average rating of “Buy” and an average price target of $45.15.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of Quanta Services during the 4th quarter worth $488,000. Halsey Associates Inc. CT grew its position in shares of Quanta Services by 4.7% during the 4th quarter. Halsey Associates Inc. CT now owns 410,816 shares of the construction company’s stock worth $16,067,000 after buying an additional 18,421 shares in the last quarter. Pier Capital LLC grew its position in shares of Quanta Services by 21.5% during the 4th quarter. Pier Capital LLC now owns 186,637 shares of the construction company’s stock worth $7,299,000 after buying an additional 33,030 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Quanta Services during the 4th quarter worth $14,666,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Quanta Services during the 4th quarter worth $1,872,000. 83.60% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Company Profile
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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