MasTec, Inc. (MTZ) Expected to Post Earnings of $1.03 Per Share

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Equities research analysts forecast that MasTec, Inc. (NYSE:MTZ) will post earnings per share (EPS) of $1.03 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for MasTec’s earnings. The lowest EPS estimate is $1.02 and the highest is $1.04. MasTec also posted earnings per share of $1.03 in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that MasTec will report full-year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $3.72. For the next financial year, analysts forecast that the business will post earnings of $4.23 per share, with EPS estimates ranging from $4.05 to $4.74. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow MasTec.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.01. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.79 billion. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS.

A number of brokerages have commented on MTZ. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday. Credit Suisse Group lowered their price target on MasTec from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, May 2nd. Robert W. Baird reiterated a “hold” rating and issued a $52.00 price objective on shares of MasTec in a report on Friday, August 3rd. ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price objective on shares of MasTec in a report on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.08.

In other news, EVP Cardenas Alberto De sold 10,000 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the executive vice president now owns 101,755 shares of the company’s stock, valued at $4,884,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. purchased a new position in MasTec in the fourth quarter valued at $107,000. Penserra Capital Management LLC grew its holdings in shares of MasTec by 331.8% during the first quarter. Penserra Capital Management LLC now owns 2,254 shares of the construction company’s stock worth $103,000 after purchasing an additional 1,732 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec during the first quarter worth about $112,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of MasTec by 81.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of MasTec during the first quarter worth about $141,000. 81.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of MasTec traded up $0.45, reaching $46.95, during trading on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 781,699 shares, compared to its average volume of 1,153,977. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.82 and a quick ratio of 1.74. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.93 and a beta of 1.56. MasTec has a 1-year low of $38.40 and a 1-year high of $55.53.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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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