Earnings Growth & Price Strength Make Quanta Services (PWR) a Stock to Watch
Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.
Let's now take a look at one standout stock that could be a perfect fit for your portfolio.
Why You Should Pay Attention to Quanta Services (PWR)
Quanta is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. Quanta has operations in the United States, Canada, Australia and other selected international markets.
On December 23, 2021, PWR was added to the Zacks Focus List at $111.52 per share. Shares have increased 92.49% to $214.66 since then.
For fiscal 2023, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $7.09. PWR boasts an average earnings surprise of 5.1%.
Earnings for Quanta Services are forecasted to see growth of 11.8% for the current fiscal year as well.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like PWR, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Quanta Services, Inc. (PWR) : Free Stock Analysis Report
