MasTec, Inc. (NYSE:MTZ) Expected to Post Quarterly Sales of $1.74 Billion

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.

About MasTec

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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Earnings History and Estimates for MasTec (NYSE:MTZ)

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