MasTec, Inc. (MTZ) Expected to Announce Quarterly Sales of $1.43 Billion

Equities research analysts predict that MasTec, Inc. (NYSE:MTZ) will announce $1.43 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for MasTec’s earnings, with the lowest sales estimate coming in at $1.40 billion and the highest estimate coming in at $1.48 billion. MasTec posted sales of $1.40 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The firm is expected to issue its next earnings results on Monday, April 29th.

According to Zacks, analysts expect that MasTec will report full year sales of $7.61 billion for the current financial year, with estimates ranging from $7.56 billion to $7.65 billion. For the next year, analysts anticipate that the firm will post sales of $8.10 billion, with estimates ranging from $7.75 billion to $8.35 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow MasTec.

MTZ has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Friday, January 4th. Barclays reiterated a “buy” rating and issued a $57.00 price objective on shares of MasTec in a research report on Wednesday, March 13th. B. Riley decreased their price objective on shares of MasTec from $71.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. DA Davidson decreased their price objective on shares of MasTec to $57.00 and set a “buy” rating on the stock in a research report on Monday, February 4th. Finally, ValuEngine upgraded shares of MasTec from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. MasTec has a consensus rating of “Buy” and an average price target of $59.88.

MTZ traded down $0.30 during trading on Thursday, hitting $51.87. The stock had a trading volume of 845,021 shares, compared to its average volume of 709,997. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.69. The stock has a market capitalization of $3.95 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.54 and a beta of 1.43. MasTec has a twelve month low of $37.24 and a twelve month high of $54.70.

A number of large investors have recently added to or reduced their stakes in MTZ. BlackRock Inc. lifted its holdings in MasTec by 54.6% in the 4th quarter. BlackRock Inc. now owns 7,818,157 shares of the construction company’s stock valued at $317,103,000 after purchasing an additional 2,762,363 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of MasTec during the 4th quarter valued at about $26,000. Marshall Wace North America L.P. increased its stake in shares of MasTec by 113.3% during the 3rd quarter. Marshall Wace North America L.P. now owns 120,827 shares of the construction company’s stock valued at $5,395,000 after acquiring an additional 1,027,187 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of MasTec by 981.2% during the 3rd quarter. Nordea Investment Management AB now owns 739,415 shares of the construction company’s stock valued at $33,015,000 after acquiring an additional 671,026 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of MasTec by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,257,442 shares of the construction company’s stock valued at $51,002,000 after acquiring an additional 437,442 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

About MasTec

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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