Q3 2017 EPS Estimates for MasTec, Inc. Raised by KeyCorp (MTZ)
MasTec, Inc. (NYSE:MTZ) – Equities researchers at KeyCorp increased their Q3 2017 earnings per share (EPS) estimates for MasTec in a report released on Monday. KeyCorp analyst T. Afzal now anticipates that the construction company will earn $0.69 per share for the quarter, up from their previous estimate of $0.68. KeyCorp also issued estimates for MasTec’s Q4 2017 earnings at $0.33 EPS and FY2017 earnings at $2.56 EPS.
A number of other equities research analysts have also issued reports on the company. DA Davidson raised MasTec from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $50.00 in a research report on Thursday, April 13th. Zacks Investment Research lowered MasTec from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Vetr raised MasTec from a “hold” rating to a “buy” rating and set a $45.42 target price on the stock in a research report on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 target price on shares of MasTec in a research report on Monday, May 15th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $45.00 target price (up from $40.00) on shares of MasTec in a research report on Saturday, April 22nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.47.
MasTec (MTZ) opened at 43.10 on Thursday. The stock has a market cap of $3.49 billion, a PE ratio of 20.23 and a beta of 1.44. MasTec has a 12 month low of $26.75 and a 12 month high of $49.50. The stock has a 50 day moving average price of $45.26 and a 200-day moving average price of $42.14.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in MasTec by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after buying an additional 743,879 shares during the last quarter. BlackRock Inc. raised its position in MasTec by 15,957.0% in the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after buying an additional 5,160,001 shares during the last quarter. Prudential Financial Inc. raised its position in MasTec by 126.7% in the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after buying an additional 829,650 shares during the last quarter. State Street Corp raised its position in MasTec by 3.0% in the first quarter. State Street Corp now owns 1,235,539 shares of the construction company’s stock valued at $49,481,000 after buying an additional 36,274 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in MasTec by 7.8% in the second quarter. Rothschild Asset Management Inc. now owns 796,826 shares of the construction company’s stock valued at $35,977,000 after buying an additional 57,463 shares during the last quarter. 70.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now directly owns 67,082 shares of the company’s stock, valued at $3,018,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now directly owns 37,545 shares in the company, valued at $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by insiders.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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