Analysts Expect MasTec, Inc. (NYSE:MTZ) Will Post Quarterly Sales of $1.49 Billion
Analysts expect MasTec, Inc. (NYSE:MTZ) to report sales of $1.49 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for MasTec’s earnings. The highest sales estimate is $1.53 billion and the lowest is $1.46 billion. MasTec posted sales of $1.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The business is expected to issue its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that MasTec will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $5.69 billion to $5.73 billion. For the next year, analysts anticipate that the firm will post sales of $6.02 billion per share, with estimates ranging from $5.89 billion to $6.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.08. MasTec had a return on equity of 18.02% and a net margin of 3.29%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm posted $0.02 EPS. MasTec’s quarterly revenue was up 18.9% compared to the same quarter last year.
MTZ has been the subject of several recent research reports. DA Davidson upgraded MasTec from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $50.00 in a research note on Thursday, April 13th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, March 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price target on shares of MasTec in a research note on Friday, May 5th. Vetr upgraded MasTec from a “hold” rating to a “buy” rating and set a $45.42 price target for the company in a research note on Monday, May 15th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $45.00 price target (up from $40.00) on shares of MasTec in a research note on Saturday, April 22nd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. MasTec currently has an average rating of “Buy” and an average price target of $42.40.
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Shares of MasTec (NYSE MTZ) traded up 0.33% during trading on Friday, hitting $45.45. The stock had a trading volume of 207,858 shares. The stock’s 50-day moving average is $43.51 and its 200-day moving average is $40.55. MasTec has a 12-month low of $22.03 and a 12-month high of $47.90. The stock has a market capitalization of $3.68 billion, a P/E ratio of 21.33 and a beta of 1.44.
In other news, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $45.06, for a total transaction of $1,126,500.00. Following the completion of the transaction, the chief operating officer now directly owns 227,816 shares in the company, valued at $10,265,388.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now owns 67,082 shares of the company’s stock, valued at $3,018,690. The disclosure for this sale can be found here. Insiders have sold 39,391 shares of company stock valued at $1,775,434 over the last 90 days. Corporate insiders own 20.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cpcm LLC bought a new stake in MasTec during the first quarter worth $234,000. Public Employees Retirement System of Ohio increased its stake in MasTec by 9.5% in the first quarter. Public Employees Retirement System of Ohio now owns 32,757 shares of the construction company’s stock worth $1,312,000 after buying an additional 2,834 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in MasTec by 39.4% in the first quarter. Goldman Sachs Group Inc. now owns 144,000 shares of the construction company’s stock worth $5,767,000 after buying an additional 40,682 shares during the last quarter. Point72 Asset Management L.P. increased its stake in MasTec by 191.0% in the first quarter. Point72 Asset Management L.P. now owns 250,000 shares of the construction company’s stock worth $10,013,000 after buying an additional 164,100 shares during the last quarter. Finally, Credit Suisse AG increased its stake in MasTec by 51.0% in the first quarter. Credit Suisse AG now owns 161,072 shares of the construction company’s stock worth $6,452,000 after buying an additional 54,387 shares during the last quarter. Institutional investors own 69.09% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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