Quanta Services (NYSE:PWR – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.32-8.87 for the period, compared to the consensus estimate of $8.50. The company issued revenue guidance of $23.5-24.1 billion, compared to the consensus revenue estimate of $23.06 billion. Quanta Services also updated its FY 2024 guidance to 8.320-8.870 EPS.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. B. Riley upped their price target on Quanta Services from $246.00 to $286.00 and gave the stock a buy rating in a report on Friday, May 3rd. DA Davidson upped their price target on Quanta Services from $225.00 to $250.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Citigroup upped their price target on Quanta Services from $299.00 to $302.00 and gave the stock a buy rating in a report on Monday, July 22nd. Truist Financial restated a buy rating and issued a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Finally, Robert W. Baird upped their price target on Quanta Services from $287.00 to $288.00 and gave the stock an outperform rating in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services has a consensus rating of Moderate Buy and an average price target of $273.75.
Get Our Latest Analysis on PWR
Quanta Services Trading Down 0.8 %
Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Analysts anticipate that Quanta Services will post 7.69 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were paid 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, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.
About Quanta Services
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.
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