Wall Street analysts forecast that MasTec, Inc. (NYSE:MTZ) will report $1.32 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for MasTec’s earnings, with the highest sales estimate coming in at $1.38 billion and the lowest estimate coming in at $1.30 billion. MasTec posted sales of $1.34 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that MasTec will report full year sales of $1.32 billion for the current fiscal year, with estimates ranging from $6.30 billion to $6.38 billion. For the next financial year, analysts expect that the business will post sales of $6.61 billion per share, with estimates ranging from $6.32 billion to $6.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share.
A number of equities analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $67.00 price objective (up from $66.00) on shares of MasTec in a research note on Tuesday, November 7th. ValuEngine raised MasTec from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Citigroup Inc. raised MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Friday, August 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $55.00 price objective on shares of MasTec in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.50 price objective on shares of MasTec in a research note on Saturday, August 19th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.14.
MasTec (NYSE MTZ) traded down $0.10 during trading on Wednesday, hitting $42.20. The company had a trading volume of 208,766 shares, compared to its average volume of 1,120,000. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74. The firm has a market capitalization of $3,490.00, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.14 and a beta of 1.54. MasTec has a one year low of $34.33 and a one year high of $49.50.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after purchasing an additional 229 shares in the last quarter. SG Americas Securities LLC bought a new stake in MasTec in the second quarter worth approximately $102,000. Global X Management Co. LLC increased its holdings in MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,799 shares in the last quarter. Creative Planning increased its holdings in MasTec by 16.4% in the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after purchasing an additional 379 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in MasTec by 13.1% in the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 73.23% of the company’s stock.
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MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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