Why the Market Dipped But Quanta Services (PWR) Gained Today

Quanta Services (PWR) closed at $313.48 in the latest trading session, marking a +0.41% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.54% for the day. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 1.63%.Shares of the specialty contractor for utility and energy companies have depreciated by 7.11% over the course of the past month, outperforming the Construction sector's loss of 10.47% and lagging the S&P 500's loss of 2.2%.The upcoming earnings release of Quanta Services will be of great interest to investors. The company is predicted to post an EPS of $2.64, indicating a 29.41% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $6.62 billion, showing a 14.51% escalation compared to the year-ago quarter.Investors should also note any recent changes to analyst estimates for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Quanta Services is currently sporting a Zacks Rank of #2 (Buy).Digging into valuation, Quanta Services currently has a Forward P/E ratio of 30.5. This signifies a premium in comparison to the average Forward P/E of 19.48 for its industry.The Engineering - R and D Services industry is part of the Construction sector. With its current Zacks Industry Rank of 139, this industry ranks in the bottom 45% of all industries, numbering over 250.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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks