Zacks: Analysts Anticipate MasTec, Inc. (NYSE:MTZ) to Announce $0.45 EPS

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.

A number of research firms have recently commented on MTZ. Credit Suisse Group cut their target price on shares of MasTec from $79.00 to $71.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. ValuEngine raised shares of MasTec from a “strong sell” rating to a “sell” rating in a research note on Friday, March 13th. KeyCorp upped their price objective on shares of MasTec from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Barclays reaffirmed a “buy” rating and set a $45.00 price objective on shares of MasTec in a research note on Thursday, April 16th. Finally, Robert W. Baird dropped their price objective on shares of MasTec from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus target price of $53.00.

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.

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.

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