Brokerages expect MasTec, Inc. (NYSE:MTZ) to announce sales of $2.16 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for MasTec’s earnings. The highest sales estimate is $2.17 billion and the lowest is $2.15 billion. MasTec reported sales of $1.98 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is expected to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that MasTec will report full-year sales of $7.70 billion for the current financial year, with estimates ranging from $7.65 billion to $7.77 billion. For the next year, analysts forecast that the company will report sales of $8.22 billion, with estimates ranging from $8.05 billion to $8.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow MasTec.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.51. MasTec had a net margin of 4.29% and a return on equity of 23.43%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year.

MTZ has been the subject of several recent research reports. B. Riley increased their price target on shares of MasTec from $62.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. KeyCorp increased their price target on shares of MasTec from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Credit Suisse Group increased their price target on shares of MasTec from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays reaffirmed a “buy” rating and set a $60.00 price objective on shares of MasTec in a report on Monday, July 15th. Finally, UBS Group initiated coverage on shares of MasTec in a report on Tuesday, May 28th. They set a “buy” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. MasTec currently has an average rating of “Buy” and an average target price of $65.25.

NYSE:MTZ traded up $1.29 during mid-day trading on Friday, hitting $60.37. The company’s stock had a trading volume of 811,300 shares, compared to its average volume of 1,223,446. MasTec has a fifty-two week low of $37.24 and a fifty-two week high of $61.64. The company has a current ratio of 1.53, a quick ratio of 1.44 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 16.59 and a beta of 1.44. The stock has a fifty day moving average of $53.90 and a 200-day moving average of $49.22.

In related news, Director C Robert Campbell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.72, for a total value of $288,600.00. Following the completion of the sale, the director now owns 67,001 shares of the company’s stock, valued at $3,867,297.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $60.05, for a total transaction of $1,501,250.00. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Weaver Consulting Group acquired a new stake in shares of MasTec in the first quarter valued at approximately $25,000. Endurance Wealth Management Inc. acquired a new stake in shares of MasTec in the first quarter valued at approximately $29,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of MasTec in the second quarter valued at approximately $45,000. NumerixS Investment Technologies Inc acquired a new stake in shares of MasTec in the second quarter valued at approximately $70,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $101,000. 85.48% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for MasTec (NYSE:MTZ)

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