MasTec (NYSE:MTZ) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS

MasTec (NYSE:MTZ) released its earnings results on Thursday. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51, Bloomberg Earnings reports. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.80 billion. MasTec had a return on equity of 23.89% and a net margin of 4.29%. MasTec’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. MasTec updated its Q3 guidance to Approx $1.57 EPS and its FY19 guidance to Approx $4.93 EPS.

NYSE:MTZ traded up $7.93 during trading hours on Friday, hitting $58.02. The company’s stock had a trading volume of 5,407,418 shares, compared to its average volume of 529,484. The stock has a fifty day simple moving average of $50.66. The stock has a market capitalization of $3.82 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.79 and a quick ratio of 1.70. MasTec has a twelve month low of $37.24 and a twelve month high of $58.43.

In related news, Director Robert J. Dwyer sold 10,000 shares of the firm’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 sale, the director now directly owns 23,587 shares of the company’s stock, valued at $1,218,504.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Icon Advisers Inc. Co. bought a new stake in MasTec in the second quarter worth approximately $2,906,000. Advisory Services Network LLC increased its holdings in MasTec by 56.2% in the second quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock worth $109,000 after purchasing an additional 759 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in MasTec by 9.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 217,290 shares of the construction company’s stock worth $11,197,000 after purchasing an additional 18,885 shares in the last quarter. Aperio Group LLC increased its holdings in MasTec by 5.4% in the second quarter. Aperio Group LLC now owns 29,273 shares of the construction company’s stock worth $1,508,000 after purchasing an additional 1,511 shares in the last quarter. Finally, Boston Advisors LLC bought a new stake in MasTec in the second quarter worth approximately $1,009,000. 85.33% of the stock is currently owned by institutional investors and hedge funds.

MTZ has been the topic of several analyst reports. 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 report on Thursday, May 9th. UBS Group initiated coverage on MasTec in a report on Tuesday, May 28th. They set a “buy” rating and a $60.00 target price on the stock. KeyCorp increased their target price on MasTec from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. ValuEngine lowered MasTec from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Barclays reissued a “buy” rating and set a $60.00 target price on shares of MasTec in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. MasTec has a consensus rating of “Buy” and a consensus price target 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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