MasTec, Inc. (NYSE:MTZ) Forecasted to Post Q3 2024 Earnings of $1.15 Per Share

MasTec, Inc. (NYSE:MTZ) – Investment analysts at DA Davidson issued their Q3 2024 earnings estimates for MasTec in a report released on Tuesday, August 6th. DA Davidson analyst B. Thielman expects that the construction company will post earnings per share of $1.15 for the quarter. DA Davidson currently has a “Buy” rating and a $125.00 price objective on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.59 per share. DA Davidson also issued estimates for MasTec’s FY2024 earnings at $2.67 EPS.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share.

Several other research firms have also recently commented on MTZ. Robert W. Baird raised their price target on shares of MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Stifel Nicolaus raised their price target on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday. KeyCorp raised their price target on shares of MasTec from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. B. Riley raised their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barclays raised their price objective on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

MasTec Stock Performance

MTZ stock opened at $108.35 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The stock has a market cap of $8.61 billion, a P/E ratio of -773.93 and a beta of 1.65. The firm has a 50 day simple moving average of $106.75 and a 200 day simple moving average of $93.87. MasTec has a 52 week low of $44.65 and a 52 week high of $113.12.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the sale, the director now owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter worth $27,000. Quarry LP acquired a new position in MasTec during the 4th quarter valued at $37,000. GAMMA Investing LLC raised its stake in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the 2nd quarter valued at $40,000. Finally, Bessemer Group Inc. raised its stake in MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Company Profile

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.