MasTec (NYSE:MTZ) Issues FY19 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of Approx $4.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.55. The company issued revenue guidance of Approx $7.7 billion, compared to the consensus revenue estimate of $7.65 billion.MasTec also updated its Q3 guidance to Approx $1.57 EPS.

NYSE:MTZ 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. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.46 and a beta of 1.44. MasTec has a twelve month low of $37.24 and a twelve month high of $58.43. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.70 and a current ratio of 1.79. The stock has a fifty day moving average price of $50.66.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share 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 for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. MasTec’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts predict that MasTec will post 4.4 EPS for the current year.

Several brokerages have weighed in on MTZ. Zacks Investment Research raised MasTec from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Thursday, May 9th. Barclays reaffirmed a buy rating and issued a $60.00 target price on shares of MasTec in a research report on Monday, July 15th. KeyCorp upped their target price on MasTec from $60.00 to $65.00 and gave the stock an overweight rating in a research report on Monday, May 6th. ValuEngine lowered MasTec from a hold rating to a sell rating in a research report on Thursday. Finally, UBS Group began coverage on MasTec in a research report on Tuesday, May 28th. They issued a buy rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $60.44.

In other MasTec news, Director Robert J. Dwyer sold 10,000 shares of the company’s 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 transaction, the director now directly 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 accessible through the SEC website. Corporate 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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