Analysts forecast that MasTec, Inc. (NYSE:MTZ) will announce sales of $1.32 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for MasTec’s earnings, with the highest sales estimate coming in at $1.38 billion and the lowest estimate coming in at $1.30 billion. MasTec posted sales of $1.34 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The firm is expected to issue its next earnings report after the market closes on Tuesday, February 27th.
On average, analysts expect that MasTec will report full year sales of $1.32 billion for the current financial year, with estimates ranging from $6.30 billion to $6.38 billion. For the next financial year, analysts expect that the firm will report sales of $6.60 billion per share, with estimates ranging from $6.32 billion to $6.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow MasTec.
Several analysts have recently weighed in on MTZ shares. Citigroup set a $54.00 target price on MasTec and gave the stock a “buy” rating in a research report on Friday, October 27th. Robert W. Baird upgraded MasTec from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $53.00 in a report on Monday, November 6th. Credit Suisse Group lifted their price objective on MasTec from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, November 6th. B. Riley restated a “buy” rating and issued a $67.00 price objective (up from $66.00) on shares of MasTec in a report on Tuesday, November 7th. Finally, ValuEngine downgraded MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $58.94.
A number of institutional investors and hedge funds have recently bought and sold shares of MTZ. BlackRock Inc. grew its stake in shares of MasTec by 1.6% during the fourth quarter. BlackRock Inc. now owns 4,824,757 shares of the construction company’s stock worth $236,171,000 after acquiring an additional 75,133 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of MasTec by 15.3% during the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock worth $141,374,000 after acquiring an additional 404,076 shares during the last quarter. State Street Corp grew its stake in shares of MasTec by 6.8% during the second quarter. State Street Corp now owns 1,319,541 shares of the construction company’s stock worth $59,578,000 after acquiring an additional 84,002 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of MasTec by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock worth $58,058,000 after acquiring an additional 380,880 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of MasTec by 12.9% during the fourth quarter. Glenmede Trust Co. NA now owns 1,151,062 shares of the construction company’s stock worth $56,343,000 after acquiring an additional 131,468 shares during the last quarter. Institutional investors own 74.36% of the company’s stock.
MasTec (NYSE:MTZ) traded up $0.40 during trading hours on Friday, hitting $51.00. The stock had a trading volume of 722,900 shares, compared to its average volume of 787,142. MasTec has a fifty-two week low of $35.75 and a fifty-two week high of $55.53. The company has a market capitalization of $4,220.00, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74.
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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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