MasTec (NYSE:MTZ) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.550-$5.550 for the period, compared to the Thomson Reuters consensus earnings per share 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.
MTZ stock traded down $0.99 during midday trading on Thursday, reaching $100.58. The stock had a trading volume of 527,288 shares, compared to its average volume of 804,643. The stock has a market cap of $7.47 billion, a PE ratio of 20.32 and a beta of 1.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.46 and a current ratio of 1.52. The firm has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $98.90. MasTec has a 52-week low of $55.64 and a 52-week high of $122.33.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, November 4th. The construction company reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.28 billion. MasTec had a return on equity of 19.79% and a net margin of 4.70%. The company’s revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. On average, sell-side analysts predict that MasTec will post 5.31 EPS for the current fiscal year.
An institutional investor recently raised its position in MasTec stock. LPL Financial LLC raised its position in MasTec, Inc. (NYSE:MTZ) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,517 shares of the construction company’s stock after buying an additional 266 shares during the period. LPL Financial LLC’s holdings in MasTec were worth $821,000 at the end of the most recent reporting period. 71.98% of the stock is owned by institutional investors and hedge funds.
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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