MasTec Positioned for Continued Earnings Success Ahead of Report

Are you on the lookout for a Stock that is likely to keep its earnings beat streak alive in its upcoming report? Consider MasTec (MTZ), a key player in the Zacks Building Products – Heavy Construction sector.

This utility contractor has demonstrated a solid record of exceeding earnings estimates, particularly in the last two reporting periods. The average surprise over these quarters stands at an impressive 22.51%.

Recent Earnings Performance

In its most recent quarter, MasTec was projected to deliver earnings of $1.28 per share, but it surpassed expectations with a report of $1.44 per share, marking a surprise of 12.50%. The previous quarter’s consensus estimated earnings at $1.23 per share, while MasTec reported $1.63 per share, resulting in a 32.52% surprise.

Price and EPS Surprise

With this history of strong earnings, there has been a positive shift in recent estimates for MasTec. The Zacks earnings ESP (Expected Surprise Prediction) for MasTec is currently positive, indicating favorable prospects for an earnings beat, especially in conjunction with its respectable Zacks Rank.

Our research indicates that stocks exhibiting both a positive earnings ESP and a Zacks Rank of #3 (Hold) or better achieve a positive surprise nearly 70% of the time. In practical terms, if you select 10 stocks meeting this criterion, you could expect around seven to outperform the consensus estimate.

The Zacks earnings ESP represents a comparison between the Most Accurate Estimate and the Zacks Consensus Estimate for the quarter. The Most Accurate Estimate is a refined version of the consensus and reflects the latest changes from analysts. This approach suggests that revisions closer to the earnings release may provide more accurate forecasts.

Currently, MasTec has an earnings ESP of +0.85%. This indicates that analysts are optimistic about the company’s future earnings potential. When coupled with its Zacks Rank #3 (Hold), it implies that another earnings beat could be on the horizon. The next earnings report is scheduled for May 1, 2025.

It’s important to note that a negative earnings ESP does not automatically indicate an earnings miss; however, it can lessen the predictive accuracy of this metric. Many firms manage to beat consensus EPS estimates, but that isn’t the sole reason for stock price increases. Conversely, some stocks remain stable even when they fall short of estimates.

Given these factors, reviewing a company’s earnings ESP prior to its quarterly announcements is crucial for informed investing. Be sure to utilize our earnings ESP Filter to identify top stocks to consider for buying or selling before their reporting dates.

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This article was originally published by Zacks Investment Research (zacks.com).

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.