Here's Why Quanta Services (PWR) is a Strong Momentum Stock
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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
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.
PWR is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 2.3% over the past one week and up 2.9% over the past four weeks. PWR has gained 76.6% in the last one-year period as well. Looking at trading volume, an average of 927,914.63 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, five analysts revised their earnings estimate higher in the last 60 days for PWR, while the Zacks Consensus Estimate has increased $0.06 to $8.65 per share. PWR also boasts an average earnings surprise of 4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding PWR to their portfolios.
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Quanta Services, Inc. (PWR) : Free Stock Analysis Report