Quanta Services (NYSE:PWR) Releases FY24 Earnings Guidance

Quanta Services (NYSE:PWR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.15-8.65 for the period, compared to the consensus estimate of $8.34. The company issued revenue guidance of $22.5-23.0 billion, compared to the consensus revenue estimate of $22.51 billion.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Robert W. Baird upped their target price on Quanta Services from $265.00 to $287.00 and gave the stock an outperform rating in a research note on Friday. Truist Financial assumed coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a buy rating and a $301.00 target price for the company. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an outperform rating and a $237.00 price target on the stock. DA Davidson increased their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Finally, Citigroup lifted their price target on Quanta Services from $275.00 to $285.00 and gave the company a buy rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $255.85.

Quanta Services Trading Up 0.5 %

Shares of PWR traded up $1.33 during mid-day trading on Friday, reaching $256.33. The stock had a trading volume of 970,817 shares, compared to its average volume of 893,668. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44. The business’s fifty day moving average is $250.69 and its 200 day moving average is $214.68. Quanta Services has a 52-week low of $153.74 and a 52-week high of $265.82. The firm has a market cap of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Activity

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

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.