MasTec, Inc. (NYSE:MTZ) Expected to Post Quarterly Sales of $2.28 Billion

Equities analysts predict that MasTec, Inc. (NYSE:MTZ) will announce $2.28 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for MasTec’s earnings, with estimates ranging from $2.27 billion to $2.30 billion. MasTec posted sales of $1.70 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.1%. The firm is expected to report its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that MasTec will report full year sales of $8.15 billion for the current financial year, with estimates ranging from $8.10 billion to $8.22 billion. For the next year, analysts expect that the business will report sales of $9.02 billion, with estimates ranging from $8.90 billion to $9.12 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow MasTec.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 5th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.09 billion. MasTec had a net margin of 5.24% and a return on equity of 20.79%.

A number of research firms have weighed in on MTZ. The Goldman Sachs Group began coverage on shares of MasTec in a research note on Friday. They set a “buy” rating and a $120.00 price target on the stock. Cowen lowered their price target on shares of MasTec from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, August 10th. Finally, Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating and set a $102.00 price objective for the company. in a report on Tuesday, July 20th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $109.00.

Shares of MTZ opened at $87.27 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.42 and a current ratio of 1.47. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 17.32 and a beta of 1.29. The company’s 50 day simple moving average is $94.75 and its 200 day simple moving average is $101.25. MasTec has a 1 year low of $40.18 and a 1 year high of $122.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its stake in MasTec by 1.0% in the first quarter. Stifel Financial Corp now owns 15,053 shares of the construction company’s stock valued at $1,410,000 after acquiring an additional 147 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in MasTec by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,929 shares of the construction company’s stock valued at $1,961,000 after acquiring an additional 200 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in MasTec by 1.2% in the second quarter. Great West Life Assurance Co. Can now owns 22,278 shares of the construction company’s stock valued at $2,362,000 after acquiring an additional 257 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in MasTec in the second quarter valued at approximately $28,000. Finally, The PNC Financial Services Group Inc. lifted its stake in MasTec by 18.3% in the first quarter. The PNC Financial Services Group Inc. now owns 1,760 shares of the construction company’s stock valued at $165,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 72.44% of the company’s stock.

About MasTec

MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Clean Energy and Infrastructure; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.

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