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

Quanta Services (NYSE:PWR - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.46 per share for the quarter. Quanta Services has set its FY 2024 guidance at 8.320-8.870 EPS and its FY24 guidance at $8.32-8.87 EPS.Parties interested in listening to the company's conference call can do so using this link.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services's revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. 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 Stock Up 1.1 %

PWR stock traded up $3.30 during trading on Thursday, hitting $309.93. 562,734 shares of the company's stock traded hands, compared to its average volume of 888,140. The firm has a market capitalization of $45.66 billion, a P/E ratio of 58.48 and a beta of 1.01. The business has a fifty day simple moving average of $285.59 and a two-hundred day simple moving average of $270.48. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services has a 1 year low of $153.74 and a 1 year high of $317.91.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 6.79%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price for the company. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Northland Securities lifted their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average target price of $308.07.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company's stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company's stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company's stock.

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.