Wall Street brokerages forecast that MasTec, Inc. (NYSE:MTZ) will report sales of $1.98 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for MasTec’s earnings, with the lowest sales estimate coming in at $1.88 billion and the highest estimate coming in at $2.03 billion. MasTec reported sales of $1.96 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that MasTec will report full-year sales of $6.88 billion for the current fiscal year, with estimates ranging from $6.73 billion to $6.99 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.53 billion, with estimates ranging from $7.18 billion to $7.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MasTec.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.01. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.79 billion. MasTec had a net margin of 5.05% and a return on equity of 14.84%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share.

Several research analysts have issued reports on the stock. ValuEngine raised shares of MasTec from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research cut shares of MasTec from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $52.00 target price on shares of MasTec in a report on Friday, August 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 target price on shares of MasTec in a report on Friday, August 3rd. Finally, Citigroup reaffirmed a “buy” rating on shares of MasTec in a report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. MasTec presently has an average rating of “Buy” and a consensus price target of $60.91.

In other news, EVP Cardenas Alberto De sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the completion of the transaction, the executive vice president now directly owns 101,755 shares of the company’s stock, valued at $4,884,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC purchased a new position in shares of MasTec during the third quarter valued at approximately $8,346,000. Seven Eight Capital LP purchased a new stake in MasTec during the third quarter valued at approximately $3,831,000. Foundry Partners LLC purchased a new stake in MasTec during the third quarter valued at approximately $1,940,000. NJ State Employees Deferred Compensation Plan increased its holdings in MasTec by 28.6% during the third quarter. NJ State Employees Deferred Compensation Plan now owns 18,000 shares of the construction company’s stock valued at $804,000 after buying an additional 4,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in MasTec by 58.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 760,000 shares of the construction company’s stock valued at $33,934,000 after buying an additional 280,000 shares during the last quarter. 82.28% of the stock is owned by hedge funds and other institutional investors.

MasTec stock traded down $0.01 during trading hours on Friday, hitting $43.04. The stock had a trading volume of 1,253,100 shares, compared to its average volume of 1,013,073. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.74 and a current ratio of 1.82. The stock has a market capitalization of $3.46 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.56. MasTec has a 12-month low of $39.83 and a 12-month high of $55.53.

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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