Analysts Expect MasTec, Inc. (MTZ) to Announce $1.22 EPS

Wall Street brokerages forecast that MasTec, Inc. (NYSE:MTZ) will announce $1.22 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for MasTec’s earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.08. MasTec reported earnings of $0.82 per share during the same quarter last year, which suggests a positive year over year growth rate of 48.8%. The firm is expected to report its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that MasTec will report full-year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $3.51 to $3.71. For the next financial year, analysts forecast that the business will post earnings of $4.29 per share, with EPS estimates ranging from $4.08 to $4.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow MasTec.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.79 billion. MasTec had a return on equity of 14.84% and a net margin of 5.05%. MasTec’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

A number of equities research analysts recently weighed in on the company. ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Robert W. Baird restated a “hold” rating and set a $52.00 price objective on shares of MasTec in a research report on Friday, August 3rd. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Citigroup restated a “buy” rating on shares of MasTec in a research report on Thursday, August 30th. Finally, Canaccord Genuity restated a “buy” rating and set a $65.00 price objective on shares of MasTec in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus target price of $60.91.

MTZ stock traded up $0.27 during midday trading on Friday, reaching $41.41. 46,777 shares of the stock were exchanged, compared to its average volume of 1,016,184. The firm has a market capitalization of $3.58 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.58 and a beta of 1.56. MasTec has a 52 week low of $39.83 and a 52 week high of $55.53. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 1.07.

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the transaction, the executive vice president now directly owns 101,755 shares of the company’s stock, valued at approximately $4,884,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners lifted its holdings in MasTec by 2.6% during the 2nd quarter. Boston Partners now owns 1,503,110 shares of the construction company’s stock worth $76,283,000 after buying an additional 37,654 shares during the period. SG Americas Securities LLC lifted its holdings in MasTec by 66.9% during the 2nd quarter. SG Americas Securities LLC now owns 9,247 shares of the construction company’s stock worth $469,000 after buying an additional 3,708 shares during the period. Tygh Capital Management Inc. lifted its holdings in MasTec by 0.8% during the 2nd quarter. Tygh Capital Management Inc. now owns 330,223 shares of the construction company’s stock worth $16,759,000 after buying an additional 2,530 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of MasTec by 227.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,841 shares of the construction company’s stock valued at $398,000 after purchasing an additional 5,446 shares during the period. Finally, Pier Capital LLC lifted its stake in shares of MasTec by 13.8% in the 2nd quarter. Pier Capital LLC now owns 160,853 shares of the construction company’s stock valued at $8,163,000 after purchasing an additional 19,560 shares during the period. 82.33% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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