Wall Street analysts expect that MasTec, Inc. (NYSE:MTZ) will announce sales of $1.65 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for MasTec’s earnings, with the lowest sales estimate coming in at $1.60 billion and the highest estimate coming in at $1.68 billion. MasTec reported sales of $1.59 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that MasTec will report full-year sales of $1.65 billion for the current financial year, with estimates ranging from $5.70 billion to $6.73 billion. For the next year, analysts anticipate that the business will report sales of $6.38 billion per share, with estimates ranging from $6.04 billion to $7.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover MasTec.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share.
MTZ has been the topic of several analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price objective on shares of MasTec in a research note on Monday, May 15th. Vetr upgraded MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 price objective on the stock in a research note on Thursday, May 25th. Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 26th. FBR & Co reiterated an “outperform” rating and issued a $57.00 price objective (up from $50.00) on shares of MasTec in a research note on Monday, May 8th. Finally, BidaskClub cut MasTec from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $49.15.
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Shares of MasTec (MTZ) traded down 0.88% during midday trading on Friday, reaching $39.30. The company had a trading volume of 982,649 shares. The firm’s 50 day moving average price is $44.21 and its 200-day moving average price is $42.26. MasTec has a 1-year low of $26.75 and a 1-year high of $49.50. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.86 and a beta of 1.44.
In other MasTec news, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now owns 67,082 shares of the company’s stock, valued at $3,018,690. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was 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 approximately $1,710,550.20. The disclosure for this sale can be found here. Corporate insiders own 20.30% of the company’s stock.
Several institutional investors have recently modified their holdings of MTZ. Teacher Retirement System of Texas raised its position in shares of MasTec by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock valued at $240,000 after buying an additional 30 shares during the last quarter. Comerica Bank raised its position in shares of MasTec by 0.3% in the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock valued at $1,295,000 after buying an additional 88 shares during the last quarter. US Bancorp DE raised its position in shares of MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock valued at $1,788,000 after buying an additional 123 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of MasTec by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock valued at $2,396,000 after buying an additional 139 shares during the last quarter. Finally, 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 during the last quarter. 71.35% of the stock is currently owned by institutional investors.
MasTec Company Profile
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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