Quanta Services (NYSE:PWR) had its price objective raised by stock analysts at Stifel Nicolaus from $43.00 to $45.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 19.08% from the company’s current price.
Several other analysts also recently commented on the company. Citigroup upped their price objective on Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TheStreet downgraded Quanta Services from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Vertical Research assumed coverage on Quanta Services in a research note on Friday, August 23rd. They set a “buy” rating and a $41.00 price objective for the company. Stephens set a $42.00 price objective on Quanta Services and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Quanta Services has an average rating of “Hold” and a consensus target price of $43.29.
Shares of Quanta Services stock traded down $0.32 on Tuesday, hitting $37.79. The stock had a trading volume of 529,918 shares, compared to its average volume of 1,398,594. Quanta Services has a 52-week low of $27.90 and a 52-week high of $41.00. The company has a current ratio of 1.97, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 14.94 and a beta of 1.18. The company’s 50 day moving average price is $34.46 and its 200 day moving average price is $36.84.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.45). Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Quanta Services will post 2.9 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of PWR. NEXT Financial Group Inc purchased a new position in shares of Quanta Services during the 2nd quarter worth approximately $33,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Quanta Services during the 2nd quarter worth approximately $37,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Quanta Services by 65.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock worth $50,000 after buying an additional 520 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth approximately $59,000. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $62,000. 85.93% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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