MasTec (NYSE:MTZ) Updates Q3 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of Approx $1.57 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.48. The company issued revenue guidance of Approx $2.15 billion, compared to the consensus revenue estimate of $2.19 billion.MasTec also updated its FY19 guidance to Approx $4.93 EPS.

Shares of MasTec stock traded up $7.93 during trading hours on Friday, hitting $58.02. 5,407,418 shares of the company’s stock traded hands, compared to its average volume of 476,249. MasTec has a 12-month low of $37.24 and a 12-month high of $58.43. The stock has a market capitalization of $3.91 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. The stock’s fifty day moving average is $50.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.79 and a quick ratio of 1.70.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.51. MasTec had a return on equity of 21.31% and a net margin of 3.93%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $1.04 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. Sell-side analysts anticipate that MasTec will post 4.4 earnings per share for the current fiscal year.

MTZ has been the subject of several research analyst reports. KeyCorp raised their target price on MasTec from $60.00 to $65.00 and gave the company an overweight rating in a research report on Monday, May 6th. Zacks Investment Research raised MasTec from a hold rating to a buy rating and set a $57.00 target price for the company in a research report on Thursday, May 9th. ValuEngine lowered MasTec from a hold rating to a sell rating in a research report on Thursday. UBS Group started coverage on MasTec in a report on Tuesday, May 28th. They issued a buy rating and a $60.00 price objective for the company. Finally, Barclays reissued a buy rating and issued a $60.00 price objective on shares of MasTec in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. MasTec presently has an average rating of Buy and an average target price of $60.44.

In related news, Director Robert J. Dwyer sold 10,000 shares of MasTec stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $51.66, for a total value of $516,600.00. Following the completion of the sale, the director now owns 23,587 shares of the company’s stock, valued at approximately $1,218,504.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 22.00% of the company’s stock.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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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