MasTec (NYSE:MTZ) Issues Earnings Results

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.

About MasTec

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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Earnings History for MasTec (NYSE:MTZ)

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