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

Brokerages predict that MasTec, Inc. (NYSE:MTZ) will announce $1.26 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for MasTec’s earnings. The highest EPS estimate is $1.30 and the lowest is $1.24. MasTec reported earnings of $1.07 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 17.8%. The firm is scheduled to report its next earnings results on Thursday, February 27th.

According to Zacks, analysts expect that MasTec will report full-year earnings of $5.13 per share for the current fiscal year, with EPS estimates ranging from $5.04 to $5.21. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.54 per share, with EPS estimates ranging from $5.30 to $5.89. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts 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 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.14. MasTec had a return on equity of 24.39% and a net margin of 4.37%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The business’s revenue was up 2.0% on a year-over-year basis.

A number of research firms have commented on MTZ. KeyCorp upped their price target on MasTec from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Canaccord Genuity set a $74.00 price target on MasTec and gave the company a “buy” rating in a research report on Friday, November 1st. Deutsche Bank upped their price target on MasTec from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 5th. ValuEngine upgraded MasTec from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, UBS Group lowered MasTec from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $73.00 in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $71.17.

Shares of NYSE MTZ traded down $0.14 during trading on Thursday, reaching $70.71. The company had a trading volume of 807,858 shares, compared to its average volume of 842,081. The company’s fifty day moving average price is $65.89 and its 200-day moving average price is $56.68. MasTec has a 12 month low of $37.24 and a 12 month high of $73.71. The stock has a market cap of $5.56 billion, a P/E ratio of 19.43 and a beta of 1.35. The company has a quick ratio of 1.57, a current ratio of 1.65 and a debt-to-equity ratio of 0.82.

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

A number of hedge funds have recently bought and sold shares of MTZ. Nuveen Asset Management LLC raised its stake in MasTec by 328.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 363,521 shares of the construction company’s stock worth $18,732,000 after buying an additional 278,708 shares during the period. AQR Capital Management LLC raised its stake in shares of MasTec by 889.0% in the second quarter. AQR Capital Management LLC now owns 269,307 shares of the construction company’s stock worth $13,339,000 after purchasing an additional 242,077 shares during the last quarter. South Street Advisors LLC raised its stake in shares of MasTec by 186.0% in the second quarter. South Street Advisors LLC now owns 219,285 shares of the construction company’s stock worth $11,300,000 after purchasing an additional 142,620 shares during the last quarter. BlackRock Inc. raised its stake in shares of MasTec by 1.8% in the second quarter. BlackRock Inc. now owns 7,947,536 shares of the construction company’s stock worth $409,536,000 after purchasing an additional 139,490 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of MasTec in the second quarter worth approximately $6,694,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for MasTec (NYSE:MTZ)

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