MasTec (NYSE:MTZ) Releases Q4 2021 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.330-$1.330 for the period, compared to the Thomson Reuters consensus estimate of $1.330. The company issued revenue guidance of $1.90 billion-$1.90 billion, compared to the consensus revenue estimate of $2.10 billion.MasTec also updated its FY 2021 guidance to $5.550-$5.550 EPS.

Shares of MTZ traded down $0.99 during trading hours on Thursday, reaching $100.58. The company’s stock had a trading volume of 527,288 shares, compared to its average volume of 804,643. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 20.32 and a beta of 1.26. MasTec has a 1-year low of $55.64 and a 1-year high of $122.33. The company has a quick ratio of 1.46, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $90.73 and a two-hundred day moving average of $98.91.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 4th. The construction company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.28 billion. MasTec had a return on equity of 19.79% and a net margin of 4.70%. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 EPS. As a group, analysts forecast that MasTec will post 5.31 EPS for the current fiscal year.

Several equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on MasTec in a research note on Friday, September 17th. They issued a buy rating and a $120.00 price target for the company. Citigroup boosted their price target on MasTec from $114.00 to $126.00 and gave the company a buy rating in a research note on Thursday, October 21st. Finally, Cowen lowered their price target on MasTec from $120.00 to $115.00 and set an outperform rating for the company in a research note on Tuesday, August 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $116.82.

A hedge fund recently raised its stake in MasTec stock. Morgan Stanley grew its holdings in MasTec, Inc. (NYSE:MTZ) by 39.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 363,864 shares of the construction company’s stock after acquiring an additional 102,619 shares during the quarter. Morgan Stanley owned 0.49% of MasTec worth $38,607,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 71.98% of the company’s stock.

About MasTec

MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Clean Energy and Infrastructure; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.

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