Brokerages predict that MasTec, Inc. (NYSE:MTZ) will announce $1.54 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for MasTec’s earnings, with the highest sales estimate coming in at $1.59 billion and the lowest estimate coming in at $1.51 billion. MasTec reported sales of $1.94 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 20.6%. The business is expected to announce its next quarterly earnings results on Thursday, August 6th.
According to Zacks, analysts expect that MasTec will report full year sales of $7.31 billion for the current fiscal year, with estimates ranging from $7.23 billion to $7.50 billion. For the next fiscal year, analysts expect that the company will post sales of $7.44 billion, with estimates ranging from $7.08 billion to $7.94 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover MasTec.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, April 30th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. MasTec had a return on equity of 22.94% and a net margin of 5.44%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was down 7.8% compared to the same quarter last year.
In other MasTec news, Director Robert J. Dwyer sold 5,945 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $41.09, for a total value of $244,280.05. Following the transaction, the director now owns 15,000 shares in the company, valued at $616,350. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 23.90% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Verus Capital Partners LLC bought a new position in MasTec in the first quarter worth approximately $28,000. Pendal Group Ltd boosted its holdings in MasTec by 75.8% in the first quarter. Pendal Group Ltd now owns 2,419 shares of the construction company’s stock worth $79,000 after acquiring an additional 1,043 shares in the last quarter. Marshall Wace LLP bought a new position in MasTec in the fourth quarter worth approximately $100,000. Point72 Hong Kong Ltd bought a new position in MasTec in the fourth quarter worth approximately $107,000. Finally, Quantbot Technologies LP bought a new position in shares of MasTec in the fourth quarter valued at approximately $137,000. Institutional investors and hedge funds own 83.06% of the company’s stock.
Shares of MTZ stock traded up $0.33 on Thursday, hitting $44.87. The company had a trading volume of 635,774 shares, compared to its average volume of 1,151,413. The firm has a market cap of $3.20 billion, a P/E ratio of 8.83 and a beta of 1.41. The stock’s 50-day moving average is $40.19 and its two-hundred day moving average is $46.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.57 and a current ratio of 1.65. MasTec has a twelve month low of $22.51 and a twelve month high of $73.71.
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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