MasTec, Inc. (NYSE:MTZ) Expected to Post Quarterly Sales of $1.54 Billion

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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.

MTZ has been the subject of several recent research reports. KeyCorp increased their price target on MasTec from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. B. Riley increased their price target on MasTec from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Robert W. Baird decreased their price target on MasTec from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price target on shares of MasTec in a research note on Wednesday, June 17th. Finally, Credit Suisse Group cut their target price on MasTec from $79.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.00.

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.

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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