MasTec (NYSE:MTZ) Releases FY 2021 Earnings Guidance

MasTec (NYSE:MTZ) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.550-$5.550 for the period, compared to the Thomson Reuters consensus estimate of $5.460. The company issued revenue guidance of $8 billion-$8 billion, compared to the consensus revenue estimate of $8.12 billion.MasTec also updated its Q4 2021 guidance to $1.330-$1.330 EPS.

Several analysts have 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 objective for the company. Citigroup increased their price objective on MasTec from $114.00 to $126.00 and gave the stock a buy rating in a research note on Thursday, October 21st. Finally, Cowen lowered their price objective 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 investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $116.82.

Shares of MTZ traded down $0.99 on Thursday, reaching $100.58. 527,288 shares of the company’s stock traded hands, compared to its average volume of 804,643. The company has a current ratio of 1.52, a quick ratio of 1.46 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.47 billion, a PE ratio of 20.32 and a beta of 1.26. The stock’s 50 day simple moving average is $90.73 and its two-hundred day simple moving average is $98.91. MasTec has a 52-week low of $55.64 and a 52-week high of $122.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, November 4th. The construction company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.28 billion. MasTec had a return on equity of 19.79% and a net margin of 4.70%. MasTec’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the business posted $1.77 earnings per share. Analysts forecast that MasTec will post 5.31 earnings per share for the current year.

An institutional investor recently raised its position in MasTec stock. LPL Financial LLC boosted its position in MasTec, Inc. (NYSE:MTZ) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,517 shares of the construction company’s stock after buying an additional 266 shares during the quarter. LPL Financial LLC’s holdings in MasTec were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 71.98% of the company’s stock.

MasTec Company Profile

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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