Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
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.
Since being added to the Zacks Focus List on December 23, 2021 at $111.52 per share, shares of PWR have increased 87.24% to $208.81.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.08 to $7.09. PWR boasts an average earnings surprise of 4%.
Earnings for Quanta Services are forecasted to see growth of 11.8% for the current fiscal year as well.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like PWR offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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