Brokerages expect MasTec, Inc. (NYSE:MTZ) to announce $1.79 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for MasTec’s earnings. The highest sales estimate is $1.81 billion and the lowest is $1.78 billion. MasTec posted sales of $1.89 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that MasTec will report full year sales of $6.86 billion for the current fiscal year, with estimates ranging from $6.59 billion to $6.99 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.54 billion per share, with estimates ranging from $7.20 billion to $7.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover MasTec.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.01. MasTec had a net margin of 5.05% and a return on equity of 14.84%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $1.03 earnings per share. MasTec’s revenue was down 14.4% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. Robert W. Baird restated a “hold” rating and set a $52.00 target price on shares of MasTec in a research report on Friday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $65.00 target price on shares of MasTec in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of MasTec from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Citigroup restated a “buy” rating on shares of MasTec in a research report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $60.08.
NYSE MTZ traded up $0.25 during mid-day trading on Monday, reaching $43.10. 573,800 shares of the stock were exchanged, compared to its average volume of 1,003,499. MasTec has a 1-year low of $39.83 and a 1-year high of $55.53. The firm has a market cap of $3.58 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.74 and a current ratio of 1.82.
In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the transaction, the executive vice president now owns 101,755 shares of the company’s stock, valued at $4,884,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 20.10% of the company’s stock.
A number of large investors have recently bought and sold shares of MTZ. Schroder Investment Management Group purchased a new position in MasTec during the second quarter worth approximately $41,125,000. Wells Fargo & Company MN raised its stake in MasTec by 50.5% during the second quarter. Wells Fargo & Company MN now owns 2,320,900 shares of the construction company’s stock worth $117,786,000 after purchasing an additional 778,685 shares during the period. Lord Abbett & CO. LLC raised its stake in MasTec by 29.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,616,353 shares of the construction company’s stock worth $76,049,000 after purchasing an additional 370,544 shares during the period. Alphinity Investment Management Pty Ltd purchased a new position in MasTec during the first quarter worth approximately $13,164,000. Finally, Stack Financial Management Inc purchased a new position in MasTec during the second quarter worth approximately $12,205,000. 82.34% of the stock is currently owned by institutional investors.
MasTec Company Profile
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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