$0.21 Earnings Per Share Expected for MasTec (MTZ) This Quarter

Equities analysts expect MasTec (NYSE:MTZ) to report earnings of $0.21 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for MasTec’s earnings, with estimates ranging from $0.20 to $0.23. MasTec posted earnings of $0.59 per share during the same quarter last year, which would indicate a negative year over year growth rate of 64.4%. The business is scheduled to report its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that MasTec will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.45 to $3.55. For the next year, analysts anticipate that the firm will post earnings of $4.01 per share, with EPS estimates ranging from $3.63 to $4.58. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MasTec.

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MasTec (NYSE:MTZ) last issued its earnings results on Tuesday, February 27th. The construction company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.08. MasTec had a return on equity of 17.67% and a net margin of 5.26%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.32 billion.

MTZ has been the subject of several research analyst reports. Citigroup lifted their target price on MasTec from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Credit Suisse Group reissued an “outperform” rating and set a $69.00 price target (up from $58.00) on shares of MasTec in a report on Thursday, January 18th. Barclays began coverage on MasTec in a report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price target for the company. Zacks Investment Research raised MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, January 19th. Finally, Craig Hallum reissued a “buy” rating and set a $69.00 price target (up from $64.00) on shares of MasTec in a report on Thursday, March 1st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. MasTec has a consensus rating of “Buy” and an average target price of $60.87.

In other MasTec news, Director Julia L. Johnson sold 29,607 shares of MasTec stock in a transaction on Friday, March 9th. The stock was sold at an average price of $51.11, for a total value of $1,513,213.77. Following the completion of the transaction, the director now directly owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $55.07, for a total value of $1,376,750.00. The disclosure for this sale can be found here. Insiders sold a total of 69,607 shares of company stock valued at $3,633,214 over the last ninety days. Insiders own 20.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. bought a new position in shares of MasTec in the 4th quarter valued at $107,000. FNY Partners Fund LP bought a new position in shares of MasTec in the 4th quarter valued at $122,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of MasTec by 81.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock valued at $128,000 after purchasing an additional 1,179 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of MasTec in the 4th quarter valued at $146,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MasTec by 53.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock valued at $166,000 after purchasing an additional 1,175 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MTZ opened at $46.55 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.89. MasTec has a 12 month low of $38.40 and a 12 month high of $55.53. The company has a market cap of $3,855.50, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55.

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MasTec Company Profile

MasTec, Inc is an infrastructure construction company, which engages in designing, building, installing, and maintaining infrastructures. It operates through the following segments: Communications; Oil and Gas, Electrical Transmissions; Power Generation and Industrial, and Other. The Communications segment performs engineering, construction, and maintenance of communications infrastructure primarily related to wireless and wire line communications and install to the home, and to a lesser extent, infrastructure for electrical utilities.

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