BB&T Revises MasTec Estimates (MTZ, ATT)

BB&T published a note on MasTec Inc. (NYSE: MTZ) adjusting the quarterly distribution of earnings in 2010 and 2011 to "better reflect the seasonality of MasTec’s business." BB&T analysts believe that recent acquisitions “have altered the company’s revenue mix, increasing its exposure to utilities.”

BB&T’s new 2010 EPS estimates are: $0.07 in Q1, $0.15 in Q2, $0.38 in Q3, and $0.32 in Q4. This compares to prior estimates of $0.07, $0.20, $0.35, and $0.30, respectively. BB&T’s annual EPS estimate of $0.92 is unchanged.

BB%T's new 2011 EPS estimates are: $0.10 in Q1, $0.20 in Q2, $0.44 in Q3, and $0.38 in Q4. This compares to prior estimates of $0.11, $0.25, $0.41, and $0.35, respectively. BB&T's annual EPS estimate of $1.12 is unchanged.

MasTec management continues to forecast strong wireless revenue growth in 2010, driven by AT&T Inc (NYSE: ATT). Analysts go on to say, “It appears that the upgrade from 3G to 4G could represent a significant opportunity for MasTec beginning in 2011.”