Wall Street analysts expect MasTec, Inc. (NYSE:MTZ) to report earnings of $0.37 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for MasTec’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.36. MasTec posted earnings of $0.70 per share in the same quarter last year, which would suggest a negative year over year growth rate of 47.1%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, February 22nd.
On average, analysts expect that MasTec will report full-year earnings of $2.81 per share for the current year, with EPS estimates ranging from $2.80 to $2.84. For the next fiscal year, analysts forecast that the company will report earnings of $3.25 per share, with EPS estimates ranging from $2.99 to $3.68. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for MasTec.
A number of equities research analysts recently issued reports on the company. Barclays assumed coverage on MasTec in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective on the stock. Citigroup boosted their price objective on MasTec from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a research note on Friday, January 19th. Robert W. Baird upgraded MasTec from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $53.00 in a research note on Monday, November 6th. Finally, ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.94.
In other news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $55.07, for a total transaction of $1,376,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in MasTec by 207,898.9% in the fourth quarter. Victory Capital Management Inc. now owns 740,476 shares of the construction company’s stock worth $36,246,000 after buying an additional 740,120 shares in the last quarter. Renaissance Technologies LLC boosted its stake in MasTec by 254.4% in the fourth quarter. Renaissance Technologies LLC now owns 661,000 shares of the construction company’s stock worth $32,356,000 after buying an additional 474,500 shares in the last quarter. Macquarie Group Ltd. boosted its stake in MasTec by 15.3% in the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock worth $141,374,000 after buying an additional 404,076 shares in the last quarter. 1060 Capital LLC boosted its stake in MasTec by 73.0% in the third quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock worth $43,629,000 after buying an additional 396,847 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in MasTec by 47.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock worth $58,058,000 after buying an additional 380,880 shares in the last quarter. 72.33% of the stock is owned by institutional investors.
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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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