$1.74 Billion in Sales Expected for MasTec, Inc. (NYSE:MTZ) This Quarter

Wall Street brokerages expect MasTec, Inc. (NYSE:MTZ) to post $1.74 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for MasTec’s earnings. The highest sales estimate is $1.78 billion and the lowest is $1.73 billion. MasTec posted sales of $1.92 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.4%. The business is expected to announce its next quarterly earnings results on Thursday, February 27th.

On average, analysts expect that MasTec will report full-year sales of $7.21 billion for the current year, with estimates ranging from $7.16 billion to $7.25 billion. For the next financial year, analysts expect that the company will post sales of $7.94 billion, with estimates ranging from $7.87 billion to $8.05 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover MasTec.

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

A number of equities research analysts have issued reports on the company. KeyCorp increased 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. DA Davidson boosted their price objective on MasTec from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. ValuEngine downgraded MasTec from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Barclays upped their target price on shares of MasTec from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus raised their target price 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.25.

In related news, Director Ernst N. Csiszar sold 3,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $64.53, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Dwyer sold 5,000 shares of MasTec stock in a transaction on Monday, November 4th. The stock was sold at an average price of $70.54, for a total transaction of $352,700.00. Following the sale, the director now 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 insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MTZ. BlackRock Inc. increased its position in shares of MasTec by 1.8% during 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 in the last quarter. Vanguard Group Inc. increased its position in MasTec by 0.6% during the second quarter. Vanguard Group Inc. now owns 5,957,657 shares of the construction company’s stock worth $306,998,000 after buying an additional 35,049 shares during the period. Macquarie Group Ltd. increased its position in MasTec by 0.8% during the second quarter. Macquarie Group Ltd. now owns 3,919,817 shares of the construction company’s stock worth $201,988,000 after buying an additional 30,639 shares during the period. Wells Fargo & Company MN increased its position in MasTec by 6.7% during the second quarter. Wells Fargo & Company MN now owns 1,706,761 shares of the construction company’s stock worth $87,949,000 after buying an additional 106,929 shares during the period. Finally, Northern Trust Corp lifted its stake in MasTec by 0.9% in the second quarter. Northern Trust Corp now owns 1,029,492 shares of the construction company’s stock valued at $53,050,000 after buying an additional 9,629 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

MTZ traded down $0.37 on Monday, hitting $62.51. 1,159,666 shares of the company were exchanged, compared to its average volume of 845,699. The firm has a 50-day moving average price of $67.59 and a two-hundred day moving average price of $58.99. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. MasTec has a twelve month low of $37.24 and a twelve month high of $73.71. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 17.17 and a beta of 1.40.

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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