$1.24 Billion in Sales Expected for MasTec, Inc. (MTZ) This Quarter
Wall Street brokerages expect that MasTec, Inc. (NYSE:MTZ) will announce $1.24 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for MasTec’s earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.23 billion. MasTec posted sales of $1.16 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The company is expected to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that MasTec will report full-year sales of $1.24 billion for the current year, with estimates ranging from $6.66 billion to $6.83 billion. For the next year, analysts forecast that the company will post sales of $7.12 billion per share, with estimates ranging from $6.65 billion to $7.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow MasTec.
A number of research analysts have recently weighed in on MTZ shares. Credit Suisse Group restated an “outperform” rating and set a $69.00 price objective (up previously from $58.00) on shares of MasTec in a research report on Thursday, January 18th. Craig Hallum raised their price objective on MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Stifel Nicolaus raised their price objective on MasTec from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, Robert W. Baird set a $56.00 price objective on MasTec and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.01.
Several large investors have recently made changes to their positions in the business. Penbrook Management LLC purchased a new position in shares of MasTec during the fourth quarter valued at approximately $881,000. Xact Kapitalforvaltning AB purchased a new position in shares of MasTec during the fourth quarter valued at approximately $333,000. Handelsbanken Fonder AB boosted its position in shares of MasTec by 297.1% during the fourth quarter. Handelsbanken Fonder AB now owns 675,000 shares of the construction company’s stock valued at $33,041,000 after buying an additional 505,000 shares during the period. J. Goldman & Co LP purchased a new position in shares of MasTec during the fourth quarter valued at approximately $1,077,000. Finally, Sterling Capital Management LLC boosted its position in shares of MasTec by 6.8% during the fourth quarter. Sterling Capital Management LLC now owns 790,718 shares of the construction company’s stock valued at $38,706,000 after buying an additional 50,185 shares during the period. Institutional investors and hedge funds own 78.94% of the company’s stock.
MasTec stock opened at $49.45 on Thursday. The firm has a market capitalization of $4,000.44, a PE ratio of 17.63, a PEG ratio of 1.02 and a beta of 1.48. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.89. MasTec has a 12-month low of $36.40 and a 12-month high of $55.53.
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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