$1.72 EPS Expected for MasTec, Inc. (NYSE:MTZ) This Quarter

Brokerages expect MasTec, Inc. (NYSE:MTZ) to announce $1.72 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for MasTec’s earnings. The lowest EPS estimate is $1.70 and the highest is $1.74. MasTec reported earnings per share of $1.83 in the same quarter last year, which suggests a negative year over year growth rate of 6%. The company is expected to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that MasTec will report full year earnings of $5.45 per share for the current fiscal year, with EPS estimates ranging from $5.41 to $5.48. For the next year, analysts forecast that the company will report earnings of $5.95 per share, with EPS estimates ranging from $5.73 to $6.33. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover MasTec.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 5th. The construction company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The business 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 equities research analysts recently weighed in on MTZ shares. Cowen cut their price objective on shares of MasTec from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating and set a $102.00 price target for the company. in a report on Tuesday, July 20th. Finally, The Goldman Sachs Group initiated coverage on MasTec in a report on Friday, September 17th. They set a “buy” rating and a $120.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $109.00.

Shares of MTZ traded up $2.00 during mid-day trading on Friday, reaching $87.07. 5,818 shares of the stock traded hands, compared to its average volume of 820,980. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 17.07 and a beta of 1.29. The stock has a fifty day simple moving average of $90.29 and a 200 day simple moving average of $100.54. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 0.66. MasTec has a 12-month low of $45.81 and a 12-month high of $122.33.

A number of hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in MasTec in the second quarter valued at approximately $1,010,000. Marshall Wace LLP grew its stake in MasTec by 66.4% in the second quarter. Marshall Wace LLP now owns 25,103 shares of the construction company’s stock valued at $2,663,000 after purchasing an additional 10,014 shares in the last quarter. Morgan Stanley grew its stake in MasTec by 39.3% in the second quarter. Morgan Stanley now owns 363,864 shares of the construction company’s stock valued at $38,607,000 after purchasing an additional 102,619 shares in the last quarter. Muhlenkamp & Co. Inc. grew its stake in MasTec by 0.4% in the second quarter. Muhlenkamp & Co. Inc. now owns 129,175 shares of the construction company’s stock valued at $13,705,000 after purchasing an additional 541 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in MasTec in the second quarter valued at approximately $1,823,000. Hedge funds and other institutional investors own 72.44% of the company’s stock.

MasTec Company Profile

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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