Analysts Expect MasTec, Inc. (MTZ) to Post $0.70 Earnings Per Share
Equities analysts expect MasTec, Inc. (NYSE:MTZ) to post earnings per share (EPS) of $0.70 for the current quarter, according to Zacks. Five analysts have provided estimates for MasTec’s earnings, with estimates ranging from $0.69 to $0.73. MasTec reported earnings per share of $0.78 in the same quarter last year, which suggests a negative year over year growth rate of 10.3%. The company is scheduled to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that MasTec will report full year earnings of $2.58 per share for the current year, with EPS estimates ranging from $2.56 to $2.63. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.58 per share, with EPS estimates ranging from $2.45 to $2.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year.
Several equities analysts have weighed in on the stock. Vetr upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 target price for the company in a report on Thursday, May 25th. Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $55.00 price target on shares of MasTec in a research note on Tuesday. FBR & Co raised their price target on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $46.00 to $55.00 in a research note on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.74.
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Shares of MasTec (NYSE:MTZ) traded down 3.12% during mid-day trading on Wednesday, hitting $38.75. 1,274,809 shares of the stock traded hands. MasTec has a 12-month low of $26.75 and a 12-month high of $49.50. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 13.66 and a beta of 1.44. The firm’s 50 day moving average price is $44.66 and its 200 day moving average price is $42.17.
In related news, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now owns 37,545 shares in the company, valued at $1,710,550.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the transaction, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS raised its stake in MasTec by 87.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 237,360 shares of the construction company’s stock worth $9,506,000 after buying an additional 110,845 shares in the last quarter. Advisory Services Network LLC purchased a new stake in MasTec during the first quarter worth about $131,000. Wells Fargo & Company MN raised its stake in MasTec by 68.8% in the first quarter. Wells Fargo & Company MN now owns 677,636 shares of the construction company’s stock worth $27,139,000 after buying an additional 276,255 shares in the last quarter. IFP Advisors Inc raised its stake in MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock worth $101,000 after buying an additional 1,725 shares in the last quarter. Finally, Profit Investment Management LLC raised its stake in MasTec by 32.0% in the first quarter. Profit Investment Management LLC now owns 66,666 shares of the construction company’s stock worth $2,670,000 after buying an additional 16,161 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.
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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