MasTec, Inc. (NYSE:MTZ) Expected to Announce Earnings of $0.45 Per Share

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Brokerages expect MasTec, Inc. (NYSE:MTZ) to report $0.45 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for MasTec’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.39. MasTec posted earnings per share of $1.60 in the same quarter last year, which indicates a negative year-over-year growth rate of 71.9%. The company is expected to issue its next earnings report on Thursday, August 6th.

On average, analysts expect that MasTec will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.48 to $4.85. For the next fiscal year, analysts forecast that the business will post earnings of $4.35 per share, with EPS estimates ranging from $3.81 to $5.15. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover MasTec.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, April 30th. The construction company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.15. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.30 billion. MasTec had a net margin of 5.44% and a return on equity of 22.94%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share.

Several brokerages recently issued reports on MTZ. Stephens cut their price objective on shares of MasTec from $70.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. KeyCorp lifted their price objective on shares of MasTec from $37.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Credit Suisse Group cut their price objective on shares of MasTec from $79.00 to $71.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. DA Davidson cut their price objective on shares of MasTec from $75.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Barclays reissued a “buy” rating and set a $45.00 price objective on shares of MasTec in a report on Thursday, April 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.00.

In other news, Director Robert J. Dwyer sold 5,945 shares of MasTec stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total transaction of $244,280.05. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $616,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.90% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of MTZ. FDx Advisors Inc. acquired a new stake in shares of MasTec during the first quarter worth $14,016,000. Norges Bank acquired a new stake in shares of MasTec during the fourth quarter worth $56,043,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of MasTec by 74.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,757,086 shares of the construction company’s stock worth $57,509,000 after buying an additional 749,052 shares during the period. Bank of America Corp DE lifted its stake in shares of MasTec by 121.8% during the fourth quarter. Bank of America Corp DE now owns 949,654 shares of the construction company’s stock worth $60,930,000 after buying an additional 521,498 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of MasTec by 44.8% during the first quarter. JPMorgan Chase & Co. now owns 1,518,456 shares of the construction company’s stock worth $49,700,000 after buying an additional 469,778 shares during the period. Institutional investors and hedge funds own 83.06% of the company’s stock.

MTZ stock traded up $0.33 during trading on Tuesday, hitting $44.87. 635,774 shares of the company’s stock traded hands, compared to its average volume of 1,151,413. The firm has a market capitalization of $3.20 billion, a P/E ratio of 8.83 and a beta of 1.41. The business has a fifty day simple moving average of $40.19 and a two-hundred day simple moving average of $46.67. The company has a quick ratio of 1.57, a current ratio of 1.65 and a debt-to-equity ratio of 0.85. MasTec has a 1 year low of $22.51 and a 1 year high of $73.71.

About MasTec

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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