MasTec, Inc. (MTZ) Issues Earnings Results
MasTec, Inc. (NYSE:MTZ) announced its quarterly earnings results on Thursday. The construction company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09, Briefing.com reports. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.66 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. MasTec updated its Q4 guidance to ~$0.36 EPS.
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MTZ has been the subject of a number of recent analyst reports. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and increased their price target for the company from $46.00 to $55.00 in a research note on Monday, July 24th. ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. FBR & Co increased their price target on shares of MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, August 8th. Finally, BidaskClub lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.86.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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