In its upcoming report, Quanta Services (PWR) is predicted by Wall Street analysts to post quarterly earnings of $5.01 per share, reflecting an increase of 50.5% compared to the same period last year. Revenues are forecasted to be $10.99 billion, representing a year-over-year increase of 43.9%.
The current level reflects an upward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts’ forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it’s time to examine the average forecasts of specific Quanta Services metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the ‘Revenues- Underground and Infrastructure’ will reach $2.27 billion. The estimate points to a change of +55.5% from the year-ago quarter.
The consensus estimate for ‘Total Backlog’ stands at $55.04 billion. Compared to the current estimate, the company reported $39.17 billion in the same quarter of the previous year.
The average prediction of analysts places ‘Backlog – Underground and Infrastructure’ at $9.87 billion. The estimate is in contrast to the year-ago figure of $6.53 billion.
Based on the collective assessment of analysts, ‘Operating income (loss)- Underground and Infrastructure’ should arrive at $199.19 million. Compared to the current estimate, the company reported $122.22 million in the same quarter of the previous year.
View all Key Company Metrics for Quanta Services here>>>
Shares of Quanta Services have experienced a change of -12.5% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PWR is expected to mirror the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
