Brokerages Anticipate MasTec, Inc. (NYSE:MTZ) Will Announce Earnings of $1.26 Per Share

Brokerages forecast that MasTec, Inc. (NYSE:MTZ) will post $1.26 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for MasTec’s earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.24. MasTec reported earnings of $1.07 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 17.8%. The business is expected to report its next quarterly earnings report on Thursday, February 27th.

On average, analysts expect that MasTec will report full year earnings of $5.17 per share for the current fiscal year, with EPS estimates ranging from $5.16 to $5.21. For the next year, analysts anticipate that the firm will post earnings of $5.59 per share, with EPS estimates ranging from $5.30 to $5.89. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for MasTec.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.14 billion. MasTec had a return on equity of 24.39% and a net margin of 4.37%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS.

A number of research firms have weighed in on MTZ. UBS Group downgraded MasTec from a “buy” rating to a “neutral” rating and increased their target price for the company from $63.00 to $73.00 in a report on Thursday, October 24th. DA Davidson boosted their price target on MasTec from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays upped their price target on shares of MasTec from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. ValuEngine cut shares of MasTec from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price objective on shares of MasTec from $74.00 to $79.00 in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $70.25.

MasTec stock traded down $0.37 during mid-day trading on Friday, reaching $62.51. 1,159,666 shares of the stock traded hands, compared to its average volume of 845,699. The stock has a market capitalization of $4.77 billion, a PE ratio of 17.17 and a beta of 1.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.65 and a quick ratio of 1.57. MasTec has a 12-month low of $37.24 and a 12-month high of $73.71. The business’s 50-day moving average is $67.59 and its 200-day moving average is $58.99.

In other MasTec news, Director Ernst N. Csiszar sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $64.53, for a total value of $193,590.00. Following the completion of the sale, the director now owns 25,564 shares in the company, valued at $1,649,644.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Dwyer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $70.54, for a total value of $352,700.00. Following the completion of the transaction, the director now directly owns 19,461 shares in the company, valued at approximately $1,372,778.94. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new stake in MasTec in the 2nd quarter worth approximately $266,000. NEXT Financial Group Inc raised its stake in MasTec by 137.2% during the 2nd quarter. NEXT Financial Group Inc now owns 3,465 shares of the construction company’s stock worth $179,000 after acquiring an additional 2,004 shares during the period. New York State Teachers Retirement System lifted its holdings in MasTec by 67.1% during the second quarter. New York State Teachers Retirement System now owns 14,694 shares of the construction company’s stock valued at $757,000 after purchasing an additional 5,900 shares in the last quarter. South Street Advisors LLC lifted its holdings in MasTec by 186.0% during the second quarter. South Street Advisors LLC now owns 219,285 shares of the construction company’s stock valued at $11,300,000 after purchasing an additional 142,620 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in MasTec during the second quarter valued at approximately $1,235,000. 79.08% 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, utility, and other 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.

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