PWR Stock Recent News

Quanta Services has a strategy of constant acquisitions leading to good long-term growth. The company has a diverse portfolio of energy infrastructure solutions and a well-diversified client base as a result of constant acquisitions. The stock price has rallied significantly in the past years - after the rally, my DCF model estimates the stock to be overvalued, constituting my sell rating.

More demand for infrastructural solutions, buyouts and solid backlog aid Quanta (PWR). However, high costs are a concern.

Quanta Services' (PWR) second quarter results benefits from strength across its segments.

Quanta Services (PWR) came out with quarterly earnings of $1.65 per share, missing the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.54 per share a year ago.

Seasonality is likely to have impacted Quanta Services' (PWR) Q2 results despite more demand for infrastructure solutions that help support customers' energy-transition initiatives and modernization.

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Quanta Services, Inc. has seen strong growth due to the ongoing energy transition, with a total return of approximately 524% over the past five years and around 51% over the past year. The company's aggressive expansion plans, including acquisitions such as Blattner Holding Company and RPCS, have increased its exposure to the renewable energy market and positioned it to capitalize on the shift to renewable energy sources. Despite trading at a premium, PWR's past performance and future projections justify the higher multiples, with a price target of about $230 per share representing approximately a 15% upside.

HOUSTON , July 18, 2023 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that it will release second quarter 2023 financial results on Thursday, August 3, 2023, before the market opens. In conjunction with the press release, Quanta has scheduled a conference call and webcast for 9:00 a.m.

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