$1.79 Billion in Sales Expected for MasTec, Inc. (MTZ) This Quarter
Wall Street brokerages expect MasTec, Inc. (NYSE:MTZ) to post sales of $1.79 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for MasTec’s earnings, with estimates ranging from $1.78 billion to $1.81 billion. MasTec reported sales of $1.89 billion in the same quarter last year, which indicates a negative year over year growth rate of 5.3%. The company is expected to issue its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that MasTec will report full year sales of $6.86 billion for the current year, with estimates ranging from $6.59 billion to $6.99 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.54 billion per share, with estimates ranging from $7.20 billion to $7.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover MasTec.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. MasTec had a net margin of 5.05% and a return on equity of 14.84%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue was down 14.4% on a year-over-year basis.
In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the transaction, the executive vice president now directly owns 101,755 shares in the company, valued at approximately $4,884,240. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 20.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC lifted its position in MasTec by 331.8% during the 1st quarter. Penserra Capital Management LLC now owns 2,254 shares of the construction company’s stock valued at $103,000 after purchasing an additional 1,732 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the 1st quarter valued at about $112,000. Mount Yale Investment Advisors LLC acquired a new position in MasTec during the 1st quarter valued at about $141,000. Chicago Partners Investment Group LLC lifted its position in MasTec by 79.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock valued at $141,000 after purchasing an additional 1,225 shares during the period. Finally, Wellington Shields Capital Management LLC acquired a new position in MasTec during the 2nd quarter valued at about $203,000. Institutional investors own 82.34% of the company’s stock.
NYSE:MTZ traded up $0.25 during mid-day trading on Monday, reaching $43.10. 573,800 shares of the company were exchanged, compared to its average volume of 1,003,499. MasTec has a 12 month low of $39.83 and a 12 month high of $55.53. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 1.07. The firm has a market cap of $3.58 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.60 and a beta of 1.52.
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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