Could Quanta Services Inc See a Reversal After Today’s Strong Options Activity?

 Could Quanta Services Inc See a Reversal After Today's Strong Options Activity?

In today’s session Quanta Services Inc (PWR) registered an unusually high (3,171) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the February, 2017 call, expecting serious PWR increase. With 3,171 contracts traded and 6634 open interest for the Feb, 17 contract, it seems this is a quite bullish bet. The option with symbol: PWR170217C00027000 closed last at: $2.45 or 0% . About 164,406 shares traded hands. Quanta Services Inc (NYSE:PWR) has risen 31.38% since March 3, 2016 and is uptrending. It has outperformed by 23.04% the S&P500.

Analysts await Quanta Services Inc (NYSE:PWR) to report earnings on November, 3. They expect $0.50 earnings per share, up 85.19% or $0.23 from last year’s $0.27 per share. PWR’s profit will be $76.47 million for 14.09 P/E if the $0.50 EPS becomes a reality. After $0.14 actual earnings per share reported by Quanta Services Inc for the previous quarter, Wall Street now forecasts 257.14% EPS growth.

Quanta Services Inc (NYSE:PWR) Ratings Coverage

Out of 10 analysts covering Quanta Services Inc. (NYSE:PWR), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $32.50 is the highest target while $20 is the lowest. The $25.64 average target is -9.01% below today’s ($28.18) stock price. Quanta Services Inc. has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. FBR Capital downgraded Quanta Services Inc (NYSE:PWR) on Monday, October 19 to “Mkt Perform” rating. The rating was reinitiated by Stifel Nicolaus with “Hold” on Tuesday, January 5. The stock has “Buy” rating given by Stifel Nicolaus on Friday, August 5. The firm earned “Buy” rating on Friday, September 23 by Stifel Nicolaus. Johnson Rice downgraded the shares of PWR in a report on Monday, October 19 to “Accumulate” rating. The stock has “Neutral” rating given by Robert W. Baird on Thursday, November 12. On Thursday, August 6 the stock rating was maintained by Maxim Group with “Buy”. Maxim Group maintained the stock with “Buy” rating in Friday, May 6 report. The company was maintained on Monday, August 10 by FBR Capital. The firm has “Neutral” rating by Citigroup given on Friday, November 13.

According to Zacks Investment Research, “Quanta is a leading provider of specialty electrical contracting and maintenance services primarily related to electric and telecommunications infrastructure in North America. In addition, the Company provides electrical contracting services to the commercial and industrial markets and installs transportation control and lighting systems. Some of Quantas services include the installation, repair and maintenance of electric power transmission and distribution lines and telecommunication and cable television lines, the construction of electric substations, and the erection of cellular telephone.”

Quanta Services, Inc. is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and gas and oil industries in the United States, Canada and Australia and selected other international markets. The company has a market cap of $4.31 billion. The Firm operates through two divisions: Electric Power Infrastructure Services, which provides network solutions to clients in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to clients involved in the development and transportation of natural gas, oil and other pipeline products. It has a 62.28 P/E ratio.

PWR Company Profile

Quanta Services, Inc. (Quanta), incorporated on August 19, 1997, is a well-known provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and gas and oil industries in the United States, Canada and Australia and selected other international markets. The Firm operates through two divisions: Electric Power Infrastructure Services, and Oil and Gas Infrastructure Services. The services it provides include the design, installation, upgrade, repair and maintenance of infrastructure within each of the industries it serves, such as electric power transmission and distribution networks, substation facilities, renewable energy facilities, pipeline transmission and distribution systems and facilities, and infrastructure services for the offshore and inland water energy markets.

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