Quanta Services (PWR) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Quanta Services (PWR) closed the latest trading day at $263.36, indicating a -1.51% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 1.07% for the day. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.The specialty contractor for utility and energy companies's stock has dropped by 6.32% in the past month, exceeding the Construction sector's loss of 6.73% and the S&P 500's loss of 7.03%.Analysts and investors alike will be keeping a close eye on the performance of Quanta Services in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.72, marking a 21.99% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.89 billion, indicating a 17.03% increase compared to the same quarter of the previous year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.18 per share and a revenue of $26.9 billion, signifying shifts of +13.49% and +13.64%, respectively, from the last year.Investors might also notice recent changes to analyst estimates for Quanta Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. Quanta Services currently has a Zacks Rank of #3 (Hold).In terms of valuation, Quanta Services is presently being traded at a Forward P/E ratio of 26.28. For comparison, its industry has an average Forward P/E of 16.76, which means Quanta Services is trading at a premium to the group.One should further note that PWR currently holds a PEG ratio of 1.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Engineering - R and D Services industry had an average PEG ratio of 1.27.The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quanta Services, Inc. (PWR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks