MasTec (NYSE:MTZ) Posts Earnings Results, Beats Estimates By $0.19 EPS

MasTec (NYSE:MTZ) released its earnings results on Thursday. The construction company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.19, MarketWatch Earnings reports. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.54 billion. MasTec had a return on equity of 19.25% and a net margin of 4.81%.

Shares of MTZ stock traded up $1.96 during trading hours on Friday, reaching $39.78. 2,416,167 shares of the stock traded hands, compared to its average volume of 773,712. MasTec has a 1-year low of $22.51 and a 1-year high of $73.71. The business has a fifty day moving average price of $41.36 and a 200 day moving average price of $43.17. The company has a quick ratio of 1.57, a current ratio of 1.65 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.93 billion, a PE ratio of 9.29 and a beta of 1.46.

In related news, Director Robert J. Dwyer sold 5,945 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.90% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on MTZ shares. UBS Group dropped their price objective on MasTec from $73.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. B. Riley boosted their price target on shares of MasTec from $40.00 to $46.00 and gave the stock a “buy” rating in a research 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 for the company in a report on Tuesday, April 7th. Barclays reaffirmed a “buy” rating and issued a $45.00 price objective on shares of MasTec in a research note on Thursday, April 16th. Finally, Robert W. Baird dropped their target price 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. MasTec presently has a consensus rating of “Buy” and a consensus target price of $53.00.

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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Earnings History for MasTec (NYSE:MTZ)

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