MasTec (NYSE:MTZ) Releases Q4 Earnings Guidance

MasTec (NYSE:MTZ) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $1.29 for the period, compared to the consensus EPS estimate of $0.94. The company issued revenue guidance of ~$3.325 billion, compared to the consensus revenue estimate of $3.32 billion. MasTec also updated its FY 2024 guidance to 3.750-3.750 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTZ. DA Davidson increased their price target on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus upped their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. B. Riley upped their price objective on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial upped their price objective on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, KeyCorp upped their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $134.00.

MasTec Stock Performance

Shares of MTZ stock traded up $7.11 on Friday, hitting $130.00. 2,451,701 shares of the stock were exchanged, compared to its average volume of 682,982. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $10.30 billion, a PE ratio of 116.07 and a beta of 1.70. MasTec has a one year low of $44.65 and a one year high of $138.87. The firm’s 50 day moving average is $119.20 and its two-hundred day moving average is $109.84.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 8.35% and a net margin of 0.73%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that MasTec will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock worth $2,978,212 in the last quarter. 21.30% of the stock is owned by company insiders.

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.