MasTec, Inc. (MTZ) Issues FY14 Earnings Guidance
MasTec, Inc. (NYSE:MTZ) updated its FY14 earnings guidance on Monday. The company provided earnings per share guidance of $1.55-1.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.92, American Banking News.com reports. The company issued revenue guidance of $4.4-4.5 billion, compared to the consensus revenue estimate of $4.57 billion.MasTec also updated its Q3 guidance to ~$0.56 EPS.
A number of research firms have recently commented on MTZ. Analysts at Barclays reiterated an overweight rating on shares of MasTec in a research note on Monday, July 21st. They now have a $39.00 price target on the stock, down previously from $40.00. On a related note, analysts at Wunderlich reiterated a buy rating on shares of MasTec in a research note on Friday, June 27th. They now have a $50.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $43.71.
Shares of MasTec, Inc. (NYSE:MTZ) traded up 4.50% during mid-day trading on Monday, hitting $28.07. 1,720,412 shares of the company’s stock traded hands. MasTec, Inc. has a 52-week low of $26.38 and a 52-week high of $44.80. The stock has a 50-day moving average of $29.23 and a 200-day moving average of $36.35. The company has a market cap of $2.177 billion and a price-to-earnings ratio of 16.54.
MasTec (NYSE:MTZ) last announced its earnings results on Monday, August 11th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.40. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that MasTec, Inc. will post $1.82 EPS for the current fiscal year.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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