Quanta Services (NYSE:PWR) Earning Somewhat Favorable Press Coverage, Analysis Shows
News articles about Quanta Services (NYSE:PWR) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Quanta Services earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 37 out of 100, indicating that recent press coverage is unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s analysis:
- Quanta Services, Inc. (NYSE:PWR) Updates FY17 Earnings Guidance (americanbankingnews.com)
- Quanta Services (PWR) Q2 Earnings: What’s in the Cards? (nasdaq.com)
- Investor Network: Quanta Services, Inc. to Host Earnings Call (finance.yahoo.com)
- Quanta Services Selected by Enbridge Pipelines for Line 3 Replacement Program in Canada (finance.yahoo.com)
- Quanta Services Reports 2017 Second Quarter Results (finance.yahoo.com)
PWR has been the subject of a number of recent research reports. BidaskClub downgraded Quanta Services from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. ValuEngine raised Quanta Services from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. FBR & Co dropped their target price on Quanta Services from $41.00 to $40.00 and set a “mkt perform” rating on the stock in a report on Friday, April 7th. TheStreet raised Quanta Services from a “c+” rating to a “b-” rating in a report on Friday, July 7th. Finally, Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.50.
Quanta Services (NYSE PWR) traded up 4.32% during mid-day trading on Thursday, hitting $35.70. The company had a trading volume of 3,913,986 shares. The company has a 50-day moving average price of $32.94 and a 200 day moving average price of $34.70. Quanta Services has a 12 month low of $23.22 and a 12 month high of $38.82. The firm has a market capitalization of $5.29 billion, a P/E ratio of 24.79 and a beta of 0.84.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Quanta Services had a net margin of 2.79% and a return on equity of 7.08%. The business’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts forecast that Quanta Services will post $2.00 EPS for the current fiscal year.
Quanta Services declared that its Board of Directors has approved a share repurchase program on Thursday, May 25th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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