D.A. Davidson Sees Improved Operating Earnings For Quanta Services

In a report published Thursday, D.A. Davidson analyst John B. Rogers reiterated a Buy rating and $40.00 price target on Quanta Services Inc (NYSE: PWR).

In the report, D.A. Davidson noted, “GAAP EPS of $0.43 per share for the third quarter was below our estimate of $0.53 (and guidance of $0.52-$0.54), and flat with $0.43 last year. Reported EPS included $0.13 of net special charges. Excluding these charges EPS would have exceeded our expectations. Adjusted EPS of $0.61, excluding the special charges and certain non-cash expenses, exceeded our estimate of $0.58 per share and guidance of $0.57-$0.59 and consensus of $0.57.”

Quanta Services closed on Wednesday at $33.23.