Quanta Services Inc. ($PWR) Stock Forecast: Down 5.2% Today

What is Quanta Services Inc.?

Quanta Services (PWR) specializes in providing infrastructure services for the electric power, oil and gas, and communication industries. The stock experienced a strong bearish movement in the market today.

Why is Quanta Services Inc. going down?

PWR stock is down 5.2% on Jun 28, 2024 19:10

• Despite the positive news surrounding the rise in power demands and the potential growth in electricity consumption, Quanta Services (PWR) faced a bearish trend in the market.
• The discrepancy between the positive industry outlook and the stock's performance could be attributed to profit-taking by investors who may have already priced in the anticipated growth.
• Additionally, market sentiment or external factors could have influenced the bearish movement in Quanta Services' stock price.
• Investors might be waiting for more concrete evidence of the company's ability to capitalize on the projected increase in power demands before driving the stock price higher.

PWR Price Chart

PWR News

Quanta Services ( PWR ) Rises Higher Than Market: Key Facts

In the most recent trading session, Quanta Services (PWR) closed at $267.06, indicating a +0.18% shift from the previous trading day.

https://www.zacks.com/stock/news/2294676/quanta-services-pwr-rises-higher-than-market-key-facts

Electrification of Everything: 3 Stocks to Buy for Escalating Power Demands

The U.S.  Energy Information Administration (EIA) predicts that the nation’s power use will climb to 4,000 billion kilowatt-hours (kWh) in 2024 and 4,128 billion kWh in 2025, up from 4,000 billion kWH in 2023. Even more importantly, peak demand is expected to jump to 38 gigawatts in the next five years, while the grid is “not prepared for significant load growth,” according to Grid Strategies. The latter company, which describes itself as “a power sector” consulting firm, also noted that America’s electricity demand is now expected to climb 4.7% in the next five years, versus the estimate in 2022 of a 2.6% gain during the same time frame. With this power consumption increase, there are certainly some electricity stocks to buy that you should grab. Meanwhile, the system also suffers from “Low transfer capability between regions.” Thus, moving electricity between regions may not be a viable means of meeting demand increases. Among the factors behind the faster-than-expected demand increase are the proliferation of data centers and the electrification of transportation. American companies that facilitate the generation and transportation of electricity should outperform in the longer term. Here are three stocks to buy to benefit from this trend.

https://investorplace.com/2024/06/electrification-of-everything-3-stocks-to-buy-for-escalating-power-demands/

Quanta Services ( PWR ) Advances While Market Declines: Some Information for Investors

Quanta Services (PWR) concluded the recent trading session at $274, signifying a +0.01% move from its prior day's close.

https://www.zacks.com/stock/news/2291809/quanta-services-pwr-advances-while-market-declines-some-information-for-investors

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Quanta Services Inc. Price History

21.05.2024 - PWR Stock was up 5.2%

• Despite positive forecasts from financial analysts, Quanta Services witnessed a significant decline in its stock price.
• The company's historical market outperformance did not shield it from the negative market sentiment exhibited today.
• Today's -1.23% drop in Quanta Services' stock price may be linked to investors capitalizing on profits following a period of growth, contributing to the observed bearish movement.
• Investors are advised to monitor the market's response in the upcoming days to gauge the continuity of this bearish trend and to evaluate potential investment opportunities.

31.04.2024 - PWR Stock was up 2.8%

• Quanta Services has demonstrated impressive performance over the last two decades, surpassing market benchmarks with an average annual return of 21.74%.
• Recent additions to Quanta Services' board and the appointment of a new independent chairman hint at potential strategic changes or internal reorganization.
• The downturn in Quanta Services' stock price today may be attributed to investors cashing in profits following a sustained growth period or broader market uncertainties impacting the infrastructure industry.
• Despite today's bearish movement, optimism towards infrastructure equities and Quanta Services' robust fundamentals imply that this decline is likely a short-term market response rather than an indication of the company's future prospects.

22.01.2024 - PWR Stock was up 9.3%

• Quanta Services (PWR) outperformed analyst expectations for both earnings and revenue in the fourth quarter of 2023, indicating robust financial performance.
• The company's quarterly profit rose compared to the previous year, surpassing market projections, which likely fueled the stock's bullish movement.
• The optimistic results for Q4 and the full-year 2023, coupled with promising revenue growth and the potential for substantial increases in net income, adjusted EBITDA, cash flow from operations, and earnings per share, painted a favorable picture for investors. This positive outlook contributed to the bullish market activity in PWR today.

22.01.2024 - PWR Stock was up 11.2%

• Quanta Services reported a profit increase in its fourth quarter, beating Street estimates. This positive financial performance likely contributed to the bullish movement in the stock.
• The company's solid growth in revenues and opportunity for double-digit growth in net income, adjusted EBITDA, cash flow from operations, and earnings per share for the full year 2023 also boosted investor confidence in the stock.
• Investors were eagerly awaiting Quanta Services' earnings report, with analysts estimating an earnings per share of $1.98. The anticipation and positive expectations surrounding the upcoming report could have further fueled the bullish momentum in the stock.
• Overall, the strong financial results and optimistic outlook provided by Quanta Services likely drove the bullish market movement in PWR today.

22.10.2023 - PWR Stock was up 1.3%

• Quanta Services shares surged on a strong growth outlook, indicating positive market sentiment towards the company's future prospects.
• The stock has outperformed the market over the past 10 years, showcasing its consistent growth and profitability.
• Quanta Services, along with other specialty engineering and construction companies, received new Buy ratings as clean energy plays, suggesting that the renewable energy transition is driving investor interest in the sector.
• The selling of shares by the Public Employees Retirement Association of Colorado had a minimal impact on the bullish movement, as it only accounted for a 1.0% decrease in holdings.
• Overall, the bullish movement in Quanta Services' stock can be attributed to its strong growth outlook, consistent performance, and positive sentiment towards the renewable energy sector.

02.10.2023 - PWR Stock was up 10.3%

• The bullish movement in the stock of Quanta Services (PWR) today can be attributed to the following factors:
• 1. Strong revenue forecast: Quanta Services has forecasted upbeat revenue for the full year, exceeding Wall Street estimates. This positive outlook indicates strong demand for their services, particularly in the renewable energy sector, which is experiencing a boom.
• 2. Better-than-expected quarterly results: The company's third-quarter results beat estimates, with an increase in profit compared to the same period last year. This positive performance likely contributed to the bullish movement in the stock.
• 3. Mixed earnings report: While Quanta Services reported a miss in non-GAAP earnings per share, their revenue surpassed expectations. The market may have focused more on the revenue beat, leading to the bullish movement.
• 4. Anticipation of Q3 earnings results: Prior to the bullish movement, there was anticipation surrounding Quanta Services' Q3 earnings results. This anticipation could have created positive sentiment among investors, driving the stock's upward movement.
• Overall, the bullish movement in Quanta Services' stock today can be attributed to their strong revenue forecast, better-than-expected quarterly results, and positive market sentiment surrounding their upcoming earnings report.

01.10.2023 - PWR Stock was up 5.2%

• The bearish movement in the stock of Quanta Services (PWR) today can be attributed to several factors:
• 1. Profit-taking: After a period of positive performance and improved technical strength, investors may have decided to take profits, leading to a sell-off in the stock.
• 2. Market sentiment: The overall market sentiment might have turned bearish, impacting the stock of Quanta Services along with other companies.
• 3. Earnings expectations: Despite the positive outlook for Quanta Services' Q3 earnings, there might be concerns among investors regarding the company's ability to meet or exceed expectations, leading to a decline in the stock price.
• 4. External factors: It is possible that external factors, such as geopolitical tensions or economic indicators, have influenced the bearish movement in the stock of Quanta Services.

02.09.2023 - PWR Stock was up 5.2%

• The bearish movement in PWR stock today could be attributed to the following factors:
• 1. Valuation concerns: The article titled "Quanta: Valuation Is Off The Grid" suggests that the stock may be overvalued, leading to a sell rating. This could have prompted investors to sell their positions, causing the bearish movement.
• 2. Short interest decline: The article mentions that PWR's short percent of float has fallen, indicating a decrease in bearish sentiment. However, this decline may have been offset by other factors, contributing to the overall bearish movement.
• 3. Technical weakness: The article "Quanta Services Earns IBD Stock Rating Upgrade" highlights that the stock's SmartSelect Composite Rating has decreased from 94 to 97. This indicates a potential weakness in key performance metrics and technical strength, which could have influenced the bearish movement.
• 4. Lack of positive catalysts: While the article "KBR Rides on Solid Backlog & Government Services Business" discusses KBR's positive growth drivers, there is no mention of any significant positive catalysts for Quanta Services. This absence of positive news may have contributed to the bearish sentiment surrounding the stock.
• Overall, the bearish movement in PWR stock today could be a result of valuation concerns, technical weakness, and a lack of positive catalysts.