Wall Street brokerages forecast that MasTec, Inc. (NYSE:MTZ) will announce earnings per share (EPS) of $0.45 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MasTec’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.48. MasTec reported earnings of $1.60 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 71.9%. The business is scheduled to report its next quarterly earnings results on Thursday, August 6th.
On average, analysts expect that MasTec will report full-year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.48 to $4.85. For the next fiscal year, analysts anticipate that the business will post earnings of $4.35 per share, with EPS estimates ranging from $3.81 to $5.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, April 30th. The construction company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.30 billion. MasTec had a net margin of 5.44% and a return on equity of 22.94%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share.
In other news, Director Robert J. Dwyer sold 5,945 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total value of $244,280.05. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $616,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. FDx Advisors Inc. acquired a new stake in shares of MasTec in the first quarter valued at about $14,016,000. Norges Bank acquired a new stake in shares of MasTec in the fourth quarter valued at about $56,043,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of MasTec by 74.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,757,086 shares of the construction company’s stock valued at $57,509,000 after purchasing an additional 749,052 shares during the period. Bank of America Corp DE lifted its stake in shares of MasTec by 121.8% in the fourth quarter. Bank of America Corp DE now owns 949,654 shares of the construction company’s stock valued at $60,930,000 after purchasing an additional 521,498 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of MasTec by 44.8% in the first quarter. JPMorgan Chase & Co. now owns 1,518,456 shares of the construction company’s stock valued at $49,700,000 after purchasing an additional 469,778 shares during the period. Hedge funds and other institutional investors own 83.06% of the company’s stock.
Shares of MTZ stock traded up $0.33 on Tuesday, reaching $44.87. 635,774 shares of the company were exchanged, compared to its average volume of 1,151,413. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 8.83 and a beta of 1.41. The business has a 50-day moving average price of $40.19 and a 200 day moving average price of $46.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.57 and a current ratio of 1.65. MasTec has a 1 year low of $22.51 and a 1 year high of $73.71.
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.
Featured Article: What does an outperform rating mean?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.