Analysts Expect MasTec, Inc. (MTZ) to Post $1.06 Earnings Per Share

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Equities analysts expect MasTec, Inc. (NYSE:MTZ) to announce earnings of $1.06 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MasTec’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.07. MasTec posted earnings of $0.47 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 125.5%. The business is expected to issue its next quarterly earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that MasTec will report full-year earnings of $3.76 per share for the current year, with EPS estimates ranging from $3.71 to $3.78. For the next fiscal year, analysts forecast that the firm will post earnings of $4.31 per share, with EPS estimates ranging from $4.05 to $4.59. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MasTec.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.13. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.99 billion. MasTec had a return on equity of 17.01% and a net margin of 5.89%. MasTec’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS.

A number of equities analysts recently weighed in on the company. Citigroup set a $70.00 price target on MasTec and gave the stock a “buy” rating in a research note on Monday, November 5th. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price target on shares of MasTec in a research note on Friday, August 3rd. Robert W. Baird lifted their price target on MasTec from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. ValuEngine cut MasTec from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research cut MasTec from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $60.42.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in MasTec by 5.4% during the 3rd quarter. BlackRock Inc. now owns 5,055,794 shares of the construction company’s stock worth $225,742,000 after acquiring an additional 260,030 shares during the period. Macquarie Group Ltd. boosted its position in MasTec by 1.5% during the 2nd quarter. Macquarie Group Ltd. now owns 3,060,379 shares of the construction company’s stock worth $155,315,000 after acquiring an additional 45,895 shares during the period. Wells Fargo & Company MN boosted its position in MasTec by 50.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,320,900 shares of the construction company’s stock worth $117,786,000 after acquiring an additional 778,685 shares during the period. Boston Partners boosted its position in MasTec by 2.6% during the 2nd quarter. Boston Partners now owns 1,503,110 shares of the construction company’s stock worth $76,283,000 after acquiring an additional 37,654 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in MasTec by 1.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,443,423 shares of the construction company’s stock worth $73,254,000 after acquiring an additional 13,591 shares during the period. Hedge funds and other institutional investors own 83.29% of the company’s stock.

MTZ traded down $1.05 during trading on Tuesday, reaching $45.63. The company had a trading volume of 1,276,917 shares, compared to its average volume of 1,123,652. The stock has a market capitalization of $3.91 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.70 and a beta of 1.43. MasTec has a 12-month low of $39.83 and a 12-month high of $55.53. The company has a current ratio of 1.94, a quick ratio of 1.85 and a debt-to-equity ratio of 1.13.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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.

See Also: Preferred Stock

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