MasTec, Inc. (MTZ) Expected to Post Quarterly Sales of $1.65 Billion
Wall Street analysts expect MasTec, Inc. (NYSE:MTZ) to report sales of $1.65 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for MasTec’s earnings, with the lowest sales estimate coming in at $1.60 billion and the highest estimate coming in at $1.68 billion. MasTec reported sales of $1.59 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that MasTec will report full-year sales of $1.65 billion for the current year, with estimates ranging from $6.00 billion to $6.07 billion. For the next financial year, analysts expect that the business will post sales of $6.45 billion per share, with estimates ranging from $6.22 billion to $6.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.34. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The firm’s revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS.
A number of research firms recently issued reports on MTZ. Citigroup Inc. raised MasTec from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Friday, August 18th. Credit Suisse Group raised MasTec from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $46.00 to $55.00 in a report on Monday, July 24th. KeyCorp reaffirmed a “buy” rating and set a $51.00 target price on shares of MasTec in a report on Tuesday, September 19th. ValuEngine lowered MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co lifted their target price on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.86.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in MasTec by 15,957.0% during the 1st quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after acquiring an additional 5,160,001 shares in the last quarter. Prudential Financial Inc. grew its stake in MasTec by 126.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after acquiring an additional 829,650 shares in the last quarter. Vanguard Group Inc. grew its stake in MasTec by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after acquiring an additional 743,879 shares in the last quarter. Gotham Asset Management LLC purchased a new position in MasTec during the 2nd quarter valued at about $19,803,000. Finally, Koch Industries Inc. purchased a new position in MasTec during the 2nd quarter valued at about $429,000. 71.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MasTec (NYSE:MTZ) opened at 43.55 on Wednesday. The firm has a market capitalization of $3.52 billion, a PE ratio of 15.36 and a beta of 1.44. The company has a 50-day moving average of $44.54 and a 200-day moving average of $43.73. MasTec has a 52 week low of $27.10 and a 52 week high of $49.50.
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MasTec Company Profile
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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