Analysts expect that MasTec, Inc. (NYSE:MTZ) will report earnings per share (EPS) of $0.62 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for MasTec’s earnings. The lowest EPS estimate is $0.61 and the highest is $0.63. MasTec posted earnings of $0.33 per share in the same quarter last year, which would suggest a positive year over year growth rate of 87.9%. The firm is expected to issue its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that MasTec will report full-year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.28 to $2.35. For the next financial year, analysts expect that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.25 to $2.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow MasTec.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.06 billion. MasTec had a return on equity of 18.02% and a net margin of 3.29%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS.
Several brokerages have commented on MTZ. Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Credit Suisse Group assumed coverage on shares of MasTec in a research report on Monday, April 3rd. They set a “neutral” rating and a $42.00 price target for the company. DA Davidson raised shares of MasTec from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $50.00 in a research report on Thursday, April 13th. Deutsche Bank AG restated a “hold” rating and issued a $45.00 target price (up previously from $40.00) on shares of MasTec in a report on Saturday, April 22nd. Finally, Vetr upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 target price on the stock in a report on Monday, May 15th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. MasTec currently has a consensus rating of “Buy” and an average target price of $42.40.
In related news, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $45.06, for a total transaction of $1,126,500.00. Following the transaction, the chief operating officer now owns 227,816 shares in the company, valued at approximately $10,265,388.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jose S. Sorzano sold 2,391 shares of MasTec stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total transaction of $108,933.96. Following the transaction, the director now owns 37,545 shares in the company, valued at approximately $1,710,550.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,391 shares of company stock worth $1,775,434. 20.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock worth $1,788,000 after buying an additional 123 shares during the period. UBS Asset Management Americas Inc. boosted its position in MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after buying an additional 146 shares during the period. Envestnet Asset Management Inc. boosted its position in MasTec by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after buying an additional 197 shares during the period. Guggenheim Capital LLC boosted its position in MasTec by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 11,819 shares of the construction company’s stock worth $452,000 after buying an additional 330 shares during the period. Finally, Private Harbour Investment Management & Counsel LLC boosted its position in MasTec by 3.2% in the first quarter. Private Harbour Investment Management & Counsel LLC now owns 22,868 shares of the construction company’s stock worth $916,000 after buying an additional 710 shares during the period. Institutional investors own 69.09% of the company’s stock.
MasTec (MTZ) traded down 0.65% during midday trading on Wednesday, hitting $45.60. The company had a trading volume of 397,388 shares. The firm’s 50 day moving average is $43.51 and its 200-day moving average is $40.55. MasTec has a 52 week low of $23.81 and a 52 week high of $47.90. The firm has a market capitalization of $3.69 billion, a P/E ratio of 21.40 and a beta of 1.44.
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MasTec Company Profile
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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