Analysts forecast that MasTec, Inc. (NYSE:MTZ) will report $1.74 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for MasTec’s earnings. The highest sales estimate is $1.78 billion and the lowest is $1.73 billion. MasTec reported sales of $1.92 billion during the same quarter last year, which indicates a negative year over year growth rate of 9.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 27th.
On average, analysts expect that MasTec will report full year sales of $7.21 billion for the current year, with estimates ranging from $7.16 billion to $7.25 billion. For the next year, analysts expect that the business will post sales of $7.94 billion, with estimates ranging from $7.87 billion to $8.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow MasTec.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.14. MasTec had a net margin of 4.37% and a return on equity of 24.39%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $1.33 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis.
MTZ has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of MasTec from $74.00 to $79.00 in a research report on Wednesday, November 20th. ValuEngine lowered MasTec from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Canaccord Genuity set a $74.00 price objective on MasTec and gave the company a “buy” rating in a research note on Friday, November 1st. DA Davidson boosted their price objective on MasTec from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, KeyCorp upped their target price on MasTec from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. MasTec currently has an average rating of “Buy” and an average target price of $70.25.
In other news, Director Ernst N. Csiszar sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $64.53, for a total value of $193,590.00. Following the completion of the sale, the director now directly owns 25,564 shares in the company, valued at approximately $1,649,644.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Dwyer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $70.54, for a total value of $352,700.00. Following the completion of the sale, the director now directly owns 19,461 shares of the company’s stock, valued at $1,372,778.94. The disclosure for this sale can be found here. 22.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of MasTec during the second quarter valued at approximately $266,000. NEXT Financial Group Inc increased its stake in MasTec by 137.2% during the 2nd quarter. NEXT Financial Group Inc now owns 3,465 shares of the construction company’s stock valued at $179,000 after purchasing an additional 2,004 shares in the last quarter. New York State Teachers Retirement System increased its stake in MasTec by 67.1% during the 2nd quarter. New York State Teachers Retirement System now owns 14,694 shares of the construction company’s stock valued at $757,000 after purchasing an additional 5,900 shares in the last quarter. Campbell Newman Asset Management Inc. increased its stake in MasTec by 7.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 19,306 shares of the construction company’s stock valued at $995,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in MasTec by 1.4% during the second quarter. Arizona State Retirement System now owns 44,844 shares of the construction company’s stock worth $2,311,000 after buying an additional 624 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.
MTZ stock traded down $0.37 during midday trading on Monday, hitting $62.51. The stock had a trading volume of 1,159,666 shares, compared to its average volume of 845,699. The firm has a market cap of $4.77 billion, a P/E ratio of 17.17 and a beta of 1.40. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. MasTec has a 1-year low of $37.24 and a 1-year high of $73.71. The business has a fifty day moving average price of $67.59 and a two-hundred day moving average price of $58.99.
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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