Zacks: Analysts Anticipate MasTec, Inc. (MTZ) Will Post Quarterly Sales of $1.32 Billion
Brokerages expect MasTec, Inc. (NYSE:MTZ) to post sales of $1.32 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for MasTec’s earnings. The lowest sales estimate is $1.30 billion and the highest is $1.38 billion. MasTec reported sales of $1.34 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The firm is scheduled to announce its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that MasTec will report full-year sales of $1.32 billion for the current year, with estimates ranging from $6.30 billion to $6.38 billion. For the next year, analysts expect that the company will post sales of $6.61 billion per share, with estimates ranging from $6.32 billion to $6.93 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover MasTec.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. MasTec’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS.
A number of research analysts have issued reports on MTZ shares. ValuEngine cut shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 8th. Canaccord Genuity restated a “buy” rating and set a $55.00 price target on shares of MasTec in a research report on Tuesday, August 15th. Stifel Nicolaus restated a “buy” rating and set a $55.50 price target on shares of MasTec in a research report on Saturday, August 19th. Finally, FBR & Co raised their price target on shares of MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.14.
Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Teacher Retirement System of Texas raised its stake in shares of MasTec by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock valued at $240,000 after purchasing an additional 30 shares in the last quarter. Comerica Bank raised its position in shares of MasTec by 0.3% during the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock worth $1,295,000 after purchasing an additional 88 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of MasTec by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after buying an additional 139 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares in the last quarter. Finally, Creative Planning grew its stake in MasTec by 16.4% in the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after purchasing an additional 379 shares in the last quarter. 73.23% of the stock is owned by institutional investors and hedge funds.
Shares of MasTec (MTZ) opened at $42.30 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92. MasTec has a 1 year low of $34.33 and a 1 year high of $49.50. The stock has a market cap of $3,442.84, a PE ratio of 13.82, a PEG ratio of 1.12 and a beta of 1.54.
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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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