MasTec (NYSE:MTZ) Updates Q4 Earnings Guidance

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley increased their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus increased their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Finally, UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.00.

MasTec Stock Up 5.8 %

Shares of NYSE:MTZ traded up $7.11 during trading hours on Friday, hitting $130.00. The company’s stock had a trading volume of 2,451,701 shares, compared to its average volume of 682,982. MasTec has a 52 week low of $44.65 and a 52 week high of $138.87. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 116.07 and a beta of 1.70. The firm’s fifty day moving average price is $119.20 and its 200 day moving average price is $109.84.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.73% and a return on equity of 8.35%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.81 EPS. MasTec’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that MasTec will post 2.69 EPS for the current year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is owned by corporate insiders.

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.