Quanta Services (NYSE:PWR) Releases FY 2024 Earnings Guidance

Quanta Services (NYSE:PWR - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 8.150-8.650 for the period, compared to the consensus earnings per share estimate of 8.350. The company issued revenue guidance of $22.5 billion-$23.0 billion, compared to the consensus revenue estimate of $22.6 billion.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PWR shares. Citigroup boosted their target price on Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a research report on Monday, April 22nd. B. Riley upped their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a buy rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an outperform rating in a research report on Friday. Finally, The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a buy rating in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $255.85.

Quanta Services Stock Up 0.5 %

Quanta Services stock traded up $1.33 during mid-day trading on Friday, reaching $256.33. The company's stock had a trading volume of 969,251 shares, compared to its average volume of 934,760. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 51.16 and a beta of 1.10. The business's 50 day simple moving average is $250.25 and its 200 day simple moving average is $213.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services has a 12 month low of $153.74 and a 12 month high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analysts' expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, research analysts anticipate that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued 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 is presently 7.19%.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was 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 owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company's stock.

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.