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.
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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