MasTec, Inc. Forecasted to Post Q3 2018 Earnings of $1.23 Per Share (MTZ)

MasTec, Inc. (NYSE:MTZ) – Investment analysts at KeyCorp lifted their Q3 2018 earnings per share estimates for shares of MasTec in a research report issued on Monday, October 22nd. KeyCorp analyst T. Afzal now expects that the construction company will earn $1.23 per share for the quarter, up from their previous estimate of $1.16.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 2nd. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company earned $1.03 EPS. The business’s quarterly revenue was down 14.4% on a year-over-year basis.



Several other equities research analysts have also weighed in on MTZ. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Robert W. Baird reissued a “hold” rating and set a $52.00 target price on shares of MasTec in a research report on Friday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $65.00 target price on shares of MasTec in a research report on Friday, August 3rd. ValuEngine lowered MasTec from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Finally, Citigroup restated a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $60.55.

Shares of NYSE MTZ opened at $41.23 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 1.07. MasTec has a fifty-two week low of $39.83 and a fifty-two week high of $55.53. The stock has a market cap of $3.49 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.56.

A number of large investors have recently added to or reduced their stakes in MTZ. Mount Yale Investment Advisors LLC purchased a new position in shares of MasTec in the 1st quarter valued at approximately $141,000. Chicago Partners Investment Group LLC grew its stake in shares of MasTec by 79.0% in 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 last quarter. Profit Investment Management LLC grew its stake in shares of MasTec by 2.6% in the 3rd quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,304 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new position in shares of MasTec in the 2nd quarter valued at approximately $203,000. Finally, UBP Investment Advisors SA purchased a new position in shares of MasTec in the 3rd quarter valued at approximately $223,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

In related news, EVP Cardenas Alberto De sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the transaction, the executive vice president now owns 101,755 shares in the company, valued at approximately $4,884,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 20.10% of the company’s stock.

MasTec Company Profile

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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