MasTec (NYSE:MTZ) Issues FY20 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its FY20 earnings guidance on Thursday morning. The company provided EPS guidance of $4.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.58. The company issued revenue guidance of ~$7.0 billion, compared to the consensus revenue estimate of $7.35 billion.MasTec also updated its FY 2020
After-Hours guidance to 4.93-4.93 EPS.

Shares of MTZ traded up $1.96 on Friday, reaching $39.78. The stock had a trading volume of 2,416,167 shares, compared to its average volume of 773,712. The firm has a market capitalization of $2.93 billion, a PE ratio of 9.29 and a beta of 1.46. 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 50-day moving average of $41.36 and a 200 day moving average of $43.17. MasTec has a twelve month low of $22.51 and a twelve month high of $73.71.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.19. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.54 billion. MasTec had a return on equity of 19.25% and a net margin of 4.81%. On average, sell-side analysts anticipate that MasTec will post 4.5 earnings per share for the current fiscal year.

MTZ has been the topic of a number of research reports. Stifel Nicolaus restated a buy rating and issued a $51.00 price target on shares of MasTec in a report on Wednesday, June 17th. UBS Group lowered their target price on MasTec from $73.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 15th. B. Riley increased their target price on MasTec from $40.00 to $46.00 and gave the company a buy rating in a report on Monday, May 4th. Barclays reiterated a buy rating and set a $45.00 target price on shares of MasTec in a report on Thursday, April 16th. Finally, DA Davidson lowered their target price on MasTec from $75.00 to $41.00 and set a buy rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $53.00.

In other news, Director Robert J. Dwyer sold 5,945 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $41.09, for a total transaction of $244,280.05. Following the sale, the director now owns 15,000 shares in the company, valued at $616,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is owned by company insiders.

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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