MasTec, Inc. (MTZ) Releases Q1 Earnings Guidance
MasTec, Inc. (NYSE:MTZ) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.39, AnalystRatingsNetwork reports. The company issued revenue guidance of ~$920 million, compared to the consensus revenue estimate of $1.05 billion.MasTec also updated its FY14 guidance to $2.27-2.30 EPS.
Shares of MasTec, Inc. (NYSE:MTZ) traded down 0.39% during mid-day trading on Thursday, hitting $38.07. 697,403 shares of the company’s stock traded hands. MasTec, Inc. has a 52 week low of $26.27 and a 52 week high of $38.47. The stock has a 50-day moving average of $35.67 and a 200-day moving average of $32.77. The company has a market cap of $2.941 billion and a P/E ratio of 23.65.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, analysts predict that MasTec, Inc. will post $1.88 earnings per share for the current fiscal year.
MTZ has been the subject of a number of recent research reports. Analysts at Avondale Partners initiated coverage on shares of MasTec in a research note on Monday. They set an outperform rating on the stock. Finally, analysts at Davidson downgraded shares of MasTec to a neutral rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $38.44.
In other MasTec news, Director Julia Johnson sold 10,000 shares of MasTec stock on the open market in a transaction dated Thursday, February 20th. The stock was sold at an average price of $37.04, for a total value of $370,400.00. Following the transaction, the director now directly owns 47,769 shares in the company, valued at approximately $1,769,364. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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