$1.54 Billion in Sales Expected for MasTec, Inc. (NYSE:MTZ) This Quarter

Wall Street brokerages expect that MasTec, Inc. (NYSE:MTZ) will announce sales of $1.54 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for MasTec’s earnings, with estimates ranging from $1.51 billion to $1.59 billion. MasTec reported sales of $1.94 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 20.6%. The business is expected to announce its next earnings results on Thursday, August 6th.

On average, analysts expect that MasTec will report full-year sales of $7.31 billion for the current financial year, with estimates ranging from $7.23 billion to $7.50 billion. For the next financial year, analysts forecast that the company will report sales of $7.44 billion, with estimates ranging from $7.08 billion to $7.94 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow MasTec.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. MasTec had a net margin of 5.44% and a return on equity of 22.94%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $0.58 EPS. MasTec’s revenue was down 7.8% on a year-over-year basis.

Several analysts have issued reports on MTZ shares. Craig Hallum cut their price objective on MasTec from $85.00 to $71.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Barclays restated a “buy” rating and set a $45.00 price objective on shares of MasTec in a report on Thursday, April 16th. Citigroup cut their price objective on MasTec from $71.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Robert W. Baird cut their price objective on MasTec from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Stephens cut their price objective on MasTec from $70.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $53.00.

NYSE MTZ traded up $0.33 on Thursday, reaching $44.87. The company’s stock had a trading volume of 635,774 shares, compared to its average volume of 1,151,413. MasTec has a twelve month low of $22.51 and a twelve month high of $73.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.57 and a current ratio of 1.65. The stock has a market cap of $3.20 billion, a PE ratio of 8.83 and a beta of 1.41. The firm’s 50 day moving average is $40.19 and its two-hundred day moving average is $46.67.

In other news, Director Robert J. Dwyer sold 5,945 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $41.09, for a total value of $244,280.05. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $616,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank grew its stake in shares of MasTec by 0.9% in the 4th quarter. Comerica Bank now owns 47,843 shares of the construction company’s stock valued at $2,797,000 after buying an additional 404 shares in the last quarter. Amalgamated Bank grew its stake in shares of MasTec by 3.6% in the 4th quarter. Amalgamated Bank now owns 11,595 shares of the construction company’s stock valued at $744,000 after buying an additional 408 shares in the last quarter. Mason Street Advisors LLC grew its stake in shares of MasTec by 1.5% in the 4th quarter. Mason Street Advisors LLC now owns 32,074 shares of the construction company’s stock valued at $2,058,000 after buying an additional 459 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of MasTec by 4.1% in the 1st quarter. State of Alaska Department of Revenue now owns 11,774 shares of the construction company’s stock valued at $384,000 after buying an additional 460 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of MasTec by 9.2% in the 4th quarter. Profund Advisors LLC now owns 6,449 shares of the construction company’s stock valued at $414,000 after buying an additional 543 shares in the last quarter. 83.06% of the stock is owned by institutional investors and hedge funds.

MasTec Company Profile

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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