MasTec (NYSE:MTZ) Releases Q4 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.29 for the period, compared to the consensus 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.

MasTec Trading Up 5.8 %

Shares of MTZ stock traded up $7.11 during mid-day trading on Friday, reaching $130.00. The company’s stock had a trading volume of 2,451,701 shares, compared to its average volume of 682,982. The company’s 50 day simple moving average is $119.20 and its 200-day simple moving average is $109.84. MasTec has a 12-month low of $44.65 and a 12-month high of $138.87. The company has a quick ratio of 1.23, a current ratio of 1.27 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 (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.73% and a return on equity of 8.35%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts predict that MasTec will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MTZ. UBS Group lifted their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp lifted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Citigroup lifted their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock valued at $2,978,212 in the last ninety days. Company insiders own 21.30% of the company’s stock.

About MasTec

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.