Wall Street analysts forecast that MasTec (MTZ) will report quarterly earnings of $1.94 per share in its upcoming release, pointing to a year-over-year increase of 34.7%. It is anticipated that revenues will amount to $3.71 billion, exhibiting an increase of 9.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 1.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain MasTec metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenue- Communications' stands at $763.16 million. The estimate indicates a change of -21.8% from the prior-year quarter.
Analysts forecast 'Revenue- Power Delivery' to reach $1.01 billion. The estimate suggests a change of +33.2% year over year.
The combined assessment of analysts suggests that 'Revenue- Clean Energy and Infrastructure' will likely reach $1.23 billion. The estimate points to a change of -2.3% from the year-ago quarter.
The average prediction of analysts places 'Adjusted EBITDA- Communications' at $78.69 million. The estimate compares to the year-ago value of $96.50 million.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Power Delivery' should arrive at $87.13 million. The estimate compares to the year-ago value of $54.40 million.
The consensus among analysts is that 'Adjusted EBITDA- Other' will reach $5.90 million. The estimate is in contrast to the year-ago figure of $9.00 million.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Clean Energy and Infrastructure' of $98.03 million. Compared to the current estimate, the company reported $104.30 million in the same quarter of the previous year.
View all Key Company Metrics for MasTec here>>>
MasTec shares have witnessed a change of +17.4% in the past month, in contrast to the Zacks S&P 500 composite's +1.8% move. With a Zacks Rank #2 (Buy), MTZ is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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MasTec, Inc. (MTZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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