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.

How to Become a New Pot Stock Millionaire

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.

In other MasTec news, EVP Cardenas Alberto De sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $49.55, for a total transaction of $743,250.00. Following the completion of the transaction, the executive vice president now owns 110,502 shares in the company, valued at $5,475,374.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia L. Johnson sold 29,607 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $51.11, for a total value of $1,513,213.77. Following the transaction, the director now owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,607 shares of company stock valued at $3,633,214. 20.30% of the stock is currently owned by company insiders.

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.

TRADEMARK VIOLATION WARNING: “$1.24 Billion in Sales Expected for MasTec, Inc. (MTZ) This Quarter” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://www.thecerbatgem.com/2018/03/22/1-24-billion-in-sales-expected-for-mastec-inc-mtz-this-quarter.html.

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.

Get a free copy of the Zacks research report on MasTec (MTZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.