MasTec (NYSE:MTZ) Updates Q3 Earnings Guidance

MasTec (NYSE:MTZ) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of ~$1.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.63. The company issued revenue guidance of ~$1.9 billion, compared to the consensus revenue estimate of $2.22 billion.MasTec also updated its FY 2020
After-Hours guidance to 4.93-4.93 EPS.

Several brokerages have recently issued reports on MTZ. B. Riley raised their target price on shares of MasTec from $40.00 to $46.00 and gave the stock a buy rating in a report on Monday, May 4th. KeyCorp raised their target price on shares of MasTec from $37.00 to $43.00 and gave the stock an overweight rating in a report on Monday, May 4th. DA Davidson cut their price target on shares of MasTec from $75.00 to $41.00 and set a buy rating on the stock in a report on Tuesday, April 7th. Robert W. Baird cut their price target on shares of MasTec from $44.00 to $43.00 and set an outperform rating on the stock in a report on Monday, May 4th. Finally, UBS Group cut their price target on shares of MasTec from $73.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. MasTec presently has an average rating of Buy and a consensus price target of $53.00.

MasTec stock traded up $1.96 on Friday, hitting $39.78. 2,416,167 shares of the stock traded hands, compared to its average volume of 773,712. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.85. The firm has a market cap of $2.93 billion, a P/E ratio of 9.29 and a beta of 1.46. The business’s fifty day simple moving average is $41.36 and its 200 day simple moving average is $43.17. MasTec has a 1 year low of $22.51 and a 1 year high of $73.71.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.19. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. MasTec had a return on equity of 19.25% and a net margin of 4.81%. As a group, analysts predict that MasTec will post 4.5 earnings per share for the current year.

In other news, Director Robert J. Dwyer sold 5,945 shares of MasTec stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $41.09, for a total value of $244,280.05. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $616,350. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.90% of the stock is owned by insiders.

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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