Wall Street analysts forecast that MasTec, Inc. (NYSE:MTZ) will post earnings of $1.22 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for MasTec’s earnings. The lowest EPS estimate is $1.08 and the highest is $1.28. MasTec posted earnings of $0.82 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.8%. The business is expected to issue its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that MasTec will report full-year earnings of $3.65 per share for the current year, with EPS estimates ranging from $3.51 to $3.71. For the next financial year, analysts expect that the business will report earnings of $4.29 per share, with EPS estimates ranging from $4.08 to $4.74. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover MasTec.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 2nd. The construction company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.01. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was down 14.4% on a year-over-year basis.

A number of research firms have weighed in on MTZ. Robert W. Baird restated a “hold” rating and set a $52.00 price target on shares of MasTec in a research report on Friday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $65.00 price target on shares of MasTec in a research report on Friday, August 3rd. Zacks Investment Research downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Citigroup restated a “buy” rating on shares of MasTec in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and a consensus target price of $60.91.

NYSE MTZ traded down $0.06 during trading hours on Friday, reaching $43.09. 36,822 shares of the stock traded hands, compared to its average volume of 1,013,915. MasTec has a 1 year low of $39.83 and a 1 year high of $55.53. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.58 and a beta of 1.56.

In other news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the executive vice president now owns 101,755 shares in the company, valued at $4,884,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new position in shares of MasTec in the first quarter worth about $141,000. Chicago Partners Investment Group LLC increased its holdings in shares of MasTec by 79.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after buying an additional 1,225 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of MasTec in the second quarter worth about $203,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of MasTec in the first quarter worth about $204,000. Finally, UBP Investment Advisors SA purchased a new position in shares of MasTec in the third quarter worth about $223,000. Hedge funds and other institutional investors own 82.33% of the company’s stock.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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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