Brokerages Anticipate MasTec, Inc. (NYSE:MTZ) Will Post Earnings of $1.12 Per Share

Equities research analysts expect MasTec, Inc. (NYSE:MTZ) to announce $1.12 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for MasTec’s earnings, with estimates ranging from $1.11 to $1.14. MasTec reported earnings of $1.04 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, August 1st.

According to Zacks, analysts expect that MasTec will report full-year earnings of $4.56 per share for the current fiscal year, with EPS estimates ranging from $4.52 to $4.63. For the next financial year, analysts anticipate that the business will report earnings of $5.16 per share, with EPS estimates ranging from $5.06 to $5.41. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for MasTec.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.19. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.43 billion. MasTec had a return on equity of 21.31% and a net margin of 3.93%. MasTec’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. UBS Group reduced their price target on Mylan to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, KeyCorp lifted their price target on PGT Innovations from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $60.44.

MTZ stock traded up $0.32 during trading on Tuesday, hitting $49.78. 374,072 shares of the company traded hands, compared to its average volume of 471,021. The stock’s 50-day moving average is $49.76. The company has a current ratio of 1.79, a quick ratio of 1.70 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.80 billion, a P/E ratio of 13.68, a PEG ratio of 1.41 and a beta of 1.48. MasTec has a 1 year low of $37.24 and a 1 year high of $53.80.

In other news, Director Robert J. Dwyer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $51.66, for a total value of $516,600.00. Following the completion of the sale, the director now directly owns 23,587 shares in the company, valued at $1,218,504.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its position in shares of MasTec by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,787,941 shares of the construction company’s stock valued at $153,639,000 after buying an additional 167,974 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of MasTec by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,802,725 shares of the construction company’s stock valued at $113,678,000 after buying an additional 48,968 shares in the last quarter. FMR LLC boosted its stake in shares of MasTec by 3,576.7% in the first quarter. FMR LLC now owns 1,999,733 shares of the construction company’s stock worth $96,187,000 after acquiring an additional 1,945,344 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of MasTec by 13.3% in the first quarter. Wells Fargo & Company MN now owns 1,599,832 shares of the construction company’s stock worth $76,951,000 after acquiring an additional 187,276 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of MasTec by 18.5% in the fourth quarter. Northern Trust Corp now owns 1,015,281 shares of the construction company’s stock worth $41,179,000 after acquiring an additional 158,379 shares during the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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