Yahoo Finance Why This 1 Construction Stock Could Be a Great Addition to Your Portfolio
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 40.97% to $157.21 since then.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.20 to $6.95. PWR also boasts an average earnings surprise of 4.7%.
Moreover, analysts are expecting Quanta Services' earnings to grow 9.6% for the current fiscal year.
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
