In the latest trading session, MasTec (MTZ - Free Report) closed at $64.79, marking a +0.84% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.64%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 0.6%.
Coming into today, shares of the utility contractor had gained 0.39% in the past month. In that same time, the Construction sector gained 2.18%, while the S&P 500 lost 1.87%.
MTZ will be looking to display strength as it nears its next earnings release. On that day, MTZ is projected to report earnings of $1.63 per share, which would represent year-over-year growth of 22.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 9.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.06 per share and revenue of $7.70 billion. These totals would mark changes of +34.22% and +11.4%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MTZ. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MTZ is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, MTZ is holding a Forward P/E ratio of 12.7. This represents a premium compared to its industry's average Forward P/E of 11.64.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.