$2.20 Billion in Sales Expected for MasTec, Inc. (NYSE:MTZ) This Quarter

Equities analysts forecast that MasTec, Inc. (NYSE:MTZGet Rating) will post sales of $2.20 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MasTec’s earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $2.20 billion. MasTec reported sales of $1.96 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that MasTec will report full-year sales of $9.21 billion for the current year. For the next year, analysts forecast that the company will post sales of $10.63 billion, with estimates ranging from $10.32 billion to $10.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover MasTec.

MasTec (NYSE:MTZGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.17. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company posted $1.04 EPS. MasTec’s revenue was up 10.1% on a year-over-year basis.

A number of brokerages recently issued reports on MTZ. Craig Hallum lowered their price target on shares of MasTec from $139.00 to $108.00 in a research report on Monday, February 28th. Zacks Investment Research cut shares of MasTec from a “hold” rating to a “sell” rating and set a $76.00 target price for the company. in a report on Monday, May 2nd. StockNews.com initiated coverage on shares of MasTec in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays decreased their target price on shares of MasTec from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, February 28th. Finally, UBS Group decreased their target price on shares of MasTec from $116.00 to $100.00 and set a “na” rating for the company in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, MasTec has a consensus rating of “Buy” and a consensus target price of $106.83.

Shares of NYSE MTZ opened at $85.19 on Friday. MasTec has a 1 year low of $70.72 and a 1 year high of $121.93. The stock has a market cap of $6.47 billion, a P/E ratio of 27.57 and a beta of 1.26. The firm has a 50-day moving average of $79.30 and a 200 day moving average of $85.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.49 and a quick ratio of 1.44.

Several hedge funds have recently made changes to their positions in the company. UMB Bank N A MO bought a new stake in MasTec during the fourth quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MasTec by 9.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,416 shares of the construction company’s stock valued at $1,792,000 after buying an additional 1,631 shares during the period. State Board of Administration of Florida Retirement System grew its position in MasTec by 5.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 30,435 shares of the construction company’s stock valued at $2,809,000 after buying an additional 1,615 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in MasTec by 19.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 443,586 shares of the construction company’s stock valued at $40,934,000 after buying an additional 71,731 shares during the period. Finally, First Republic Investment Management Inc. grew its position in MasTec by 10.0% during the fourth quarter. First Republic Investment Management Inc. now owns 59,331 shares of the construction company’s stock valued at $5,475,000 after buying an additional 5,412 shares during the period. Hedge funds and other institutional investors own 68.44% of the company’s stock.

MasTec Company Profile (Get Rating)

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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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