MasTec, Inc. (MTZ) Expected to Announce Quarterly Sales of $1.32 Billion

Equities research analysts forecast that MasTec, Inc. (NYSE:MTZ) will report sales of $1.32 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for MasTec’s earnings, with the lowest sales estimate coming in at $1.30 billion and the highest estimate coming in at $1.38 billion. MasTec posted sales of $1.34 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The business is expected to report its next earnings report on Thursday, February 22nd.

On average, analysts expect that MasTec will report full year sales of $1.32 billion for the current year, with estimates ranging from $6.30 billion to $6.38 billion. For the next financial year, analysts expect that the company will report sales of $6.61 billion per share, with estimates ranging from $6.32 billion to $6.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow 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 consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year.

Several equities analysts have commented on the company. B. Riley reiterated a “buy” rating and set a $67.00 price target (up previously from $66.00) on shares of MasTec in a report on Tuesday, November 7th. Citigroup raised MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, August 18th. Canaccord Genuity reissued a “buy” rating and issued a $55.00 price objective on shares of MasTec in a research report on Tuesday, August 15th. Stifel Nicolaus reissued a “buy” rating and issued a $55.50 price objective on shares of MasTec in a research report on Saturday, August 19th. Finally, KeyCorp reissued a “buy” rating and issued a $51.00 price objective on shares of MasTec in a research report on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MasTec has a consensus rating of “Buy” and an average target price of $55.14.

Shares of MasTec (MTZ) traded up $1.45 during mid-day trading on Friday, reaching $47.45. The company’s stock had a trading volume of 1,256,724 shares, compared to its average volume of 1,018,722. MasTec has a one year low of $34.33 and a one year high of $49.50. 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 $3,927.01, a P/E ratio of 15.76, a PEG ratio of 1.28 and a beta of 1.53.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in MasTec by 4.9% in the second quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock worth $325,963,000 after purchasing an additional 335,076 shares during the period. BNP Paribas Arbitrage SA lifted its position in MasTec by 29.1% in the second quarter. BNP Paribas Arbitrage SA now owns 54,836 shares of the construction company’s stock worth $2,476,000 after purchasing an additional 12,345 shares during the period. Timpani Capital Management LLC lifted its position in MasTec by 3.3% in the second quarter. Timpani Capital Management LLC now owns 121,662 shares of the construction company’s stock worth $5,493,000 after purchasing an additional 3,909 shares during the period. Koch Industries Inc. bought a new position in MasTec in the second quarter worth $429,000. Finally, Gotham Asset Management LLC bought a new position in MasTec in the second quarter worth $19,803,000. 73.23% of the stock is owned by institutional investors.

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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.

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Earnings History and Estimates for MasTec (NYSE:MTZ)

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