The stock of Quanta Services Inc (NYSE:PWR) hit a new 52-week high and has $45.14 target or 57.00% above today’s $28.75 share price. The 8 months bullish chart indicates low risk for the $4.33 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $45.14 price target is reached, the company will be worth $2.47B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 211,882 shares traded hands. Quanta Services Inc (NYSE:PWR) has risen 29.53% since March 7, 2016 and is uptrending. It has outperformed by 21.94% the S&P500.
Analysts await Quanta Services Inc (NYSE:PWR) to report earnings on November, 3. They expect $0.50 EPS, up 85.19% or $0.23 from last year’s $0.27 per share. PWR’s profit will be $75.30 million for 14.38 P/E if the $0.50 EPS becomes a reality. After $0.14 actual EPS reported by Quanta Services Inc for the previous quarter, Wall Street now forecasts 257.14% EPS growth.
Quanta Services Inc (NYSE:PWR) Ratings Coverage
Out of 10 analysts covering Quanta Services Inc. (NYSE:PWR), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. Quanta Services Inc. has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus on Friday, September 23 with “Buy”. As per Thursday, November 12, the company rating was downgraded by Robert W. Baird. The company was maintained on Monday, August 10 by FBR Capital. The rating was downgraded by FBR Capital to “Mkt Perform” on Monday, October 19. The firm earned “Hold” rating on Friday, October 2 by BB&T Capital. The rating was downgraded by UBS to “Neutral” on Monday, February 8. The stock of Quanta Services Inc (NYSE:PWR) earned “Accumulate” rating by Johnson Rice on Monday, October 19. The firm has “Mkt Perform” rating given on Monday, November 9 by FBR Capital. Maxim Group maintained it with “Buy” rating and $28 target price in Friday, May 6 report. The firm has “Buy” rating given on Friday, August 5 by Stifel Nicolaus.
According to Zacks Investment Research, “Quanta is a leading provider of specialty electrical contracting and maintenance services primarily related to electric and telecommunications infrastructure in North America. In addition, the Company provides electrical contracting services to the commercial and industrial markets and installs transportation control and lighting systems. Some of Quantas services include the installation, repair and maintenance of electric power transmission and distribution lines and telecommunication and cable television lines, the construction of electric substations, and the erection of cellular telephone.”
PWR Company Profile
Quanta Services, Inc. (Quanta), incorporated on August 19, 1997, is a well-known provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and gas and oil industries in the United States, Canada and Australia and selected other international markets. The Firm operates through two divisions: Electric Power Infrastructure Services, and Oil and Gas Infrastructure Services. The services it provides include the design, installation, upgrade, repair and maintenance of infrastructure within each of the industries it serves, such as electric power transmission and distribution networks, substation facilities, renewable energy facilities, pipeline transmission and distribution systems and facilities, and infrastructure services for the offshore and inland water energy markets.
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