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Saturday, April 10, 2021

Quanta Services Inc. (NYSE:PWR) is Waving the Bear Flag

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Quanta Services Inc. (PWR) shares are trading at lower $61.14 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $58.50.

To add more color to this target, the company’s high over the last year is $64.14 and the low is $23.77. Over the last 52 weeks, PWR is up 47.54% while the S&P 500 is up 12.53%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PWR reported a profit of $355.26 million. Quanta Services Inc. also saw revenues increase to $2.51 billion. In addition, PWR has free cash flow of $608.77 million as of 06-2020. The company’s EBITDA came in at $185.81 million which compares well with its peers.

PWR booked profit margins of 3.10%, its Return on Equity (ROE) is 9.40%, and its Return on Assets is 4.40%. All told, it is clear that, PWR needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PWR has a short ratio of 2.71 and outstanding shares of 139.86M.

Company Outlook

PWR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.34 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.50. Quanta Services Inc. PWR also noted assets of $8.09 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PWR has historically followed its peers on positive news.

All told, Quanta Services Inc. PWR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PWR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Quanta Services Inc. PWR is now commanding a market cap of 8.33B and a float of 137.80M. PWR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PWR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PWR, either long or short, and we have not been compensated for this article.

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