MasTec, Inc. (NYSE:MTZ) Expected to Post Quarterly Sales of $2.16 Billion
Equities analysts expect that MasTec, Inc. (NYSE:MTZ) will post $2.16 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for MasTec’s earnings. The highest sales estimate is $2.17 billion and the lowest is $2.15 billion. MasTec posted sales of $1.98 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The company is expected to issue its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that MasTec will report full-year sales of $7.70 billion for the current financial year, with estimates ranging from $7.65 billion to $7.77 billion. For the next year, analysts expect that the business will post sales of $8.22 billion, with estimates ranging from $8.05 billion to $8.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MasTec.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.51. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.43%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share.
Shares of NYSE MTZ traded up $0.06 during midday trading on Friday, hitting $59.08. The company’s stock had a trading volume of 871,800 shares, compared to its average volume of 836,208. The company’s fifty day simple moving average is $53.47. MasTec has a one year low of $37.24 and a one year high of $61.64. The company has a quick ratio of 1.44, a current ratio of 1.53 and a debt-to-equity ratio of 0.92. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 16.23 and a beta of 1.44.
In related news, Director C Robert Campbell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.72, for a total transaction of $288,600.00. Following the sale, the director now owns 67,001 shares of the company’s stock, valued at approximately $3,867,297.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $60.05, for a total transaction of $1,501,250.00. The disclosure for this sale can be found here. Corporate insiders own 22.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MTZ. Trexquant Investment LP bought a new position in shares of MasTec in the 1st quarter worth $2,249,000. Sheets Smith Wealth Management increased its holdings in shares of MasTec by 2.7% in the 2nd quarter. Sheets Smith Wealth Management now owns 75,291 shares of the construction company’s stock worth $3,880,000 after buying an additional 2,000 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of MasTec by 94.4% in the 4th quarter. Legal & General Group Plc now owns 87,649 shares of the construction company’s stock worth $3,555,000 after buying an additional 42,573 shares during the last quarter. Pennsylvania Trust Co bought a new position in shares of MasTec in the 1st quarter worth $312,000. Finally, Thompson Investment Management Inc. bought a new position in shares of MasTec in the 1st quarter worth $431,000. 85.48% of the stock is currently owned by institutional investors and hedge funds.
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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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