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.
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.
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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