Quanta Services Falls 1.42% as Investors Await Results

Quanta Services shares fell 1.42% to close at $642.51 in the latest trading session, a steeper decline than the S&P 500’s 0.25% drop. The Dow fell 0.86%, while the Nasdaq rose 0.24%.

The stock gained 6.61% over the past month, outperforming the Construction sector, which lost 4.32%, and the S&P 500, down 0.42% over the same period.

Investors are looking ahead to the company’s upcoming financial results. Zacks consensus estimates call for quarterly earnings of $5.01 per share and revenue of $10.99 billion, increases of 50.45% and 43.95%, respectively, from the same quarter last year.

For the full year, analysts expect earnings of $16.70 per share and revenue of $39.41 billion, according to Zacks estimates. Those figures would represent year-over-year increases of 55.35% and 38.37%, respectively.

Quanta is trading at a forward price-to-earnings ratio of 39.04, compared with an industry average of 23.22, according to the article. Zacks also said its consensus earnings estimate had risen 0.25% over the past month.