MasTec (MTZ) Announces Quarterly Earnings Results

MasTec (NYSE:MTZ) posted its quarterly earnings data on Thursday. The construction company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.13, Briefing.com reports. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.99 billion. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share.

Shares of MTZ traded up $2.63 during mid-day trading on Friday, hitting $47.73. The stock had a trading volume of 5,960,134 shares, compared to its average volume of 1,038,010. The firm has a market cap of $3.46 billion, a PE ratio of 17.48, a PEG ratio of 1.52 and a beta of 1.56. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.82 and a quick ratio of 1.74. MasTec has a 52 week low of $39.83 and a 52 week high of $55.53.

Several brokerages have issued reports on MTZ. Robert W. Baird set a $52.00 target price on MasTec and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Monday, October 22nd. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price on shares of MasTec in a research note on Friday, August 3rd. ValuEngine upgraded MasTec from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Finally, Citigroup restated a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.64.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Earnings History for MasTec (NYSE:MTZ)

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