MasTec, Inc. (MTZ) Releases Q4 Earnings Guidance
MasTec, Inc. (NYSE:MTZ) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$0.36 for the period, compared to the Thomson Reuters consensus estimate of $0.38. The company issued revenue guidance of ~$1.3 billion, compared to the consensus revenue estimate of $1.32 billion.
A number of brokerages have commented on MTZ. Citigroup Inc. raised MasTec from a neutral rating to a buy rating and set a $49.00 price target for the company in a research report on Friday, August 18th. Credit Suisse Group raised MasTec from a neutral rating to an outperform rating and lifted their price target for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. KeyCorp reaffirmed a buy rating and set a $51.00 price target on shares of MasTec in a research report on Tuesday, September 19th. ValuEngine cut MasTec from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, FBR & Co boosted their price objective on MasTec from $57.00 to $66.00 and gave the company an outperform rating in a report on Monday, August 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $53.86.
Shares of MasTec, Inc. (MTZ) traded up $0.05 during trading on Friday, hitting $42.85. The company had a trading volume of 2,610,646 shares, compared to its average volume of 1,053,266. The stock has a market cap of $3.45 billion, a PE ratio of 13.85 and a beta of 1.54.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 21.30% and a net margin of 3.78%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.81 EPS. MasTec’s quarterly revenue was up 23.3% on a year-over-year basis. equities analysts expect that MasTec, Inc. will post 2.57 EPS for the current fiscal year.
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MasTec Company Profile
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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