This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Why Quanta Services (PWR) Is Popping on Thursday

Stocks in this article: PWR

NEW YORK (TheStreet) -- Quanta Services (PWR) is popping after posting fourth-quarter results which beat expectations on the top- and bottom-line. Management also forecast 2014 earnings and revenue above consensus. 

By early afternoon, shares had added 6.3% to $34.13.

In the three months to December, the construction services contractor recorded net income of 50 cents a share, 10 cents higher than analysts surveyed by Thomson Reuters had expected. Revenue of $1.82 billion was 9% higher than a year earlier and beat expectations by $112 million.

"Our customer relationships are expanding as capital programs become larger and more complex, requiring Quanta's growing geographic presence and comprehensive service offerings," said CEO Jim O'Neill in a statement.

"We believe these factors, coupled with our record backlog, will provide the opportunity for double-digit growth for at least the next two years."

For the current quarter ending March, management forecasts revenue between $1.65 billion and $1.75 billion, in-line with consensus of $1.68 billion. Projected per-share earnings of 41 cents to 43 cents came in higher than analyst expectations of 36 cents a share.

Over fiscal 2014, the Houston-based company anticipates revenues between $7.4 billion and $7.8 billion with net income of $1.85 to $2.05 a share. Analysts had forecast revenue of $7.1 billion and net income of $1.77 a share.

Also see: Minimum Wage Hike Could Derail Young Workers

Also see: Google Fiber a Godsend for Comcast

TheStreet Ratings team rates QUANTA SERVICES INC as a Buy with a ratings score of A. The team has this to say about their recommendation:

"We rate QUANTA SERVICES INC (PWR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,380.41 +263.17 1.63%
S&P 500 1,886.76 +24.00 1.29%
NASDAQ 4,258.4380 +41.0480 0.97%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs