MasTec (NYSE:MTZ) issued its quarterly earnings data on Thursday. The construction company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.51, Bloomberg Earnings reports. MasTec had a net margin of 4.29% and a return on equity of 23.89%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $1.04 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. MasTec updated its Q3 guidance to Approx $1.57 EPS and its FY19 guidance to Approx $4.93 EPS.
Shares of MTZ traded up $7.93 during midday trading on Friday, hitting $58.02. The company had a trading volume of 5,407,418 shares, compared to its average volume of 529,484. The firm has a 50 day moving average price of $50.66. The stock has a market cap of $3.82 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. MasTec has a 52 week low of $37.24 and a 52 week high of $58.43. The company has a current ratio of 1.79, a quick ratio of 1.70 and a debt-to-equity ratio of 1.18.
In other news, Director Robert J. Dwyer sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new stake in shares of MasTec during the 1st quarter valued at about $25,000. Endurance Wealth Management Inc. bought a new stake in shares of MasTec during the 1st quarter valued at about $29,000. Advisory Services Network LLC grew its position in shares of MasTec by 56.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock valued at $109,000 after buying an additional 759 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of MasTec during the 4th quarter valued at about $101,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of MasTec during the 2nd quarter valued at about $159,000. 85.33% of the stock is owned by institutional investors.
A number of brokerages have commented on MTZ. Barclays reiterated a “buy” rating and issued a $60.00 price objective on shares of MasTec in a report on Monday, July 15th. KeyCorp boosted their price objective on shares of MasTec from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. UBS Group began coverage on shares of MasTec in a report on Tuesday, May 28th. They issued a “buy” rating and a $60.00 price objective on the stock. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, May 9th. Finally, ValuEngine downgraded shares of MasTec from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $60.44.
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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