Wall Street brokerages expect MasTec (NYSE:MTZ) to post sales of $1.24 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for MasTec’s earnings. The lowest sales estimate is $1.23 billion and the highest is $1.25 billion. MasTec posted sales of $1.16 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The firm is expected to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that MasTec will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $6.66 billion to $6.82 billion. For the next financial year, analysts forecast that the firm will report sales of $7.11 billion per share, with estimates ranging from $6.65 billion to $7.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover MasTec.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Tuesday, February 27th. The construction company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. MasTec had a net margin of 5.26% and a return on equity of 17.67%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.32 billion.
A number of analysts have commented on the stock. ValuEngine raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their price target on shares of MasTec from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Friday, January 19th. Credit Suisse Group reissued an “outperform” rating and issued a $69.00 price target (up from $58.00) on shares of MasTec in a research report on Thursday, January 18th. Finally, Citigroup increased their price target on shares of MasTec from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $60.87.
In related news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $55.07, for a total transaction of $1,376,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julia L. Johnson sold 29,607 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $51.11, for a total transaction of $1,513,213.77. Following the transaction, the director now directly owns 72,921 shares in the company, valued at approximately $3,726,992.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,607 shares of company stock worth $3,633,214. Insiders own 20.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in MasTec by 12.6% during the third quarter. Bank of New York Mellon Corp now owns 364,094 shares of the construction company’s stock valued at $16,893,000 after purchasing an additional 40,854 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in MasTec by 112.3% during the third quarter. Point72 Asset Management L.P. now owns 690,800 shares of the construction company’s stock valued at $32,053,000 after purchasing an additional 365,400 shares during the last quarter. Deutsche Bank AG grew its holdings in MasTec by 25.4% during the fourth quarter. Deutsche Bank AG now owns 472,971 shares of the construction company’s stock valued at $23,150,000 after purchasing an additional 95,697 shares during the last quarter. Advisory Research Inc. acquired a new position in MasTec during the fourth quarter valued at approximately $531,000. Finally, DnB Asset Management AS grew its holdings in MasTec by 19.5% during the fourth quarter. DnB Asset Management AS now owns 784,000 shares of the construction company’s stock valued at $38,377,000 after purchasing an additional 128,000 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.
MTZ stock 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 one year low of $38.40 and a one year high of $55.53. The stock has a market cap of $3,930.04, a price-to-earnings ratio of 17.05, a PEG ratio of 1.01 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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