MasTec, Inc. (NYSE:MTZ) - Research analysts at KeyCorp raised their Q3 2017 earnings estimates for shares of MasTec in a research note issued on Monday. KeyCorp analyst T. Afzal now forecasts that the construction company will post earnings per share of $0.69 for the quarter, up from their prior forecast of $0.68. KeyCorp also issued estimates for MasTec’s Q4 2017 earnings at $0.33 EPS and FY2017 earnings at $2.56 EPS.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis.
WARNING: “Q3 2017 EPS Estimates for MasTec, Inc. Raised by KeyCorp (NYSE:MTZ)” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://stocknewstimes.com/2017/08/10/q3-2017-eps-estimates-for-mastec-inc-raised-by-keycorp-nysemtz.html.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th. Vetr upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 target price on the stock in a research note on Thursday, May 25th. FBR & Co upped their target price on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of MasTec in a research note on Monday, May 15th. Finally, Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $46.00 to $55.00 in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. MasTec currently has an average rating of “Buy” and a consensus price target of $46.47.
Shares of MasTec (NYSE:MTZ) opened at 43.10 on Thursday. The stock has a market cap of $3.49 billion, a P/E ratio of 20.23 and a beta of 1.44. The stock has a 50 day moving average of $45.26 and a 200 day moving average of $42.14. MasTec has a 52 week low of $26.75 and a 52 week high of $49.50.
In other MasTec news, Director Jose S. Sorzano sold 2,391 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now directly owns 37,545 shares in the company, valued at $1,710,550.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 12,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the transaction, the director now owns 67,082 shares in the company, valued at $3,018,690. The disclosure for this sale can be found here. Corporate insiders own 20.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MTZ. Goldman Sachs Group Inc. raised its position in shares of MasTec by 39.4% in the first quarter. Goldman Sachs Group Inc. now owns 144,000 shares of the construction company’s stock valued at $5,767,000 after buying an additional 40,682 shares in the last quarter. BlackRock Inc. raised its position in shares of MasTec by 15,957.0% in the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after buying an additional 5,160,001 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock valued at $1,773,000 after buying an additional 146 shares in the last quarter. Legal & General Group Plc raised its position in shares of MasTec by 2.2% in the first quarter. Legal & General Group Plc now owns 77,102 shares of the construction company’s stock valued at $3,081,000 after buying an additional 1,644 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of MasTec by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after buying an additional 743,879 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.
About MasTec
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.
Receive News & Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
