Brokerages predict that MasTec, Inc. (NYSE:MTZ) will announce earnings per share of $1.63 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for MasTec’s earnings, with the lowest EPS estimate coming in at $1.61 and the highest estimate coming in at $1.67. MasTec posted earnings of $1.33 per share in the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The firm is expected to issue its next earnings report on Thursday, November 7th.
On average, analysts expect that MasTec will report full-year earnings of $4.99 per share for the current year, with EPS estimates ranging from $4.55 to $5.09. For the next year, analysts forecast that the company will post earnings of $5.40 per share, with EPS estimates ranging from $5.22 to $5.60. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow MasTec.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.51. MasTec had a return on equity of 23.43% and a net margin of 4.29%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.04 EPS. MasTec’s quarterly revenue was up 19.9% compared to the same quarter last year.
Several brokerages recently issued reports on MTZ. ValuEngine raised MasTec from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Craig Hallum upped their price objective on MasTec from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, May 9th. DA Davidson increased their target price on MasTec to $70.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group assumed coverage on MasTec in a research report on Tuesday, May 28th. They issued a “buy” rating and a $60.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.25.
Shares of MTZ traded up $0.93 during trading hours on Thursday, hitting $61.13. 1,025,433 shares of the company were exchanged, compared to its average volume of 835,297. The business’s fifty day simple moving average is $53.00. The stock has a market capitalization of $4.68 billion, a P/E ratio of 16.79 and a beta of 1.44. The company has a current ratio of 1.53, a quick ratio of 1.44 and a debt-to-equity ratio of 0.92. MasTec has a fifty-two week low of $37.24 and a fifty-two week high of $61.64.
In other news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $60.05, for a total value of $1,501,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 5,000 shares of MasTec stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.72, for a total value of $288,600.00. Following the transaction, the director now owns 67,001 shares in the company, valued at $3,867,297.72. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Dimensional Fund Advisors LP lifted its position in MasTec by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,802,725 shares of the construction company’s stock valued at $113,678,000 after purchasing an additional 48,968 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in MasTec during the fourth quarter valued at $101,000. Thrivent Financial for Lutherans purchased a new position in MasTec during the fourth quarter valued at $670,000. Legal & General Group Plc lifted its position in MasTec by 94.4% during the fourth quarter. Legal & General Group Plc now owns 87,649 shares of the construction company’s stock valued at $3,555,000 after purchasing an additional 42,573 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in MasTec during the fourth quarter valued at $405,000. Institutional investors own 85.48% of the company’s stock.
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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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