MasTec, Inc. (MTZ) Expected to Post Earnings of $0.36 Per Share
Equities analysts forecast that MasTec, Inc. (NYSE:MTZ) will post earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for MasTec’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.20. MasTec posted earnings of $0.59 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 39%. The company is scheduled to report its next earnings report on Thursday, May 3rd.
On average, analysts expect that MasTec will report full year earnings of $3.32 per share for the current year, with EPS estimates ranging from $2.99 to $3.68. For the next fiscal year, analysts forecast that the business will post earnings of $3.73 per share, with EPS estimates ranging from $3.11 to $4.04. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow MasTec.
Several equities research analysts have issued reports on MTZ shares. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Friday, January 19th. Credit Suisse Group reissued an “outperform” rating and issued a $69.00 price objective (up from $58.00) on shares of MasTec in a research report on Thursday, January 18th. Robert W. Baird raised shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $53.00 in a research report on Monday, November 6th. Craig Hallum boosted their price target on shares of MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, ValuEngine lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. MasTec currently has a consensus rating of “Buy” and an average target price of $61.01.
In related news, EVP Cardenas Alberto De sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $49.55, for a total transaction of $743,250.00. Following the completion of the transaction, the executive vice president now owns 110,502 shares in the company, valued at approximately $5,475,374.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $55.07, for a total transaction of $1,376,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,000 shares of company stock valued at $3,374,000. Company insiders own 20.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MTZ. The Manufacturers Life Insurance Company raised its stake in shares of MasTec by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,843 shares of the construction company’s stock worth $2,341,000 after acquiring an additional 692 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of MasTec during the 2nd quarter worth approximately $224,000. State of New Jersey Common Pension Fund D bought a new position in shares of MasTec during the 3rd quarter worth approximately $3,248,000. Parametrica Management Ltd bought a new position in shares of MasTec during the 3rd quarter worth approximately $393,000. Finally, Dupont Capital Management Corp raised its stake in shares of MasTec by 892.9% during the 3rd quarter. Dupont Capital Management Corp now owns 79,500 shares of the construction company’s stock worth $3,689,000 after acquiring an additional 71,493 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.
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MasTec Company Profile
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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