MasTec (NYSE:MTZ) Issues FY 2021 Earnings Guidance

MasTec (NYSE:MTZ) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $5.550-$5.550 for the period, compared to the Thomson Reuters consensus EPS 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.

A number of brokerages recently issued reports on MTZ. Citigroup boosted their price target on MasTec from $114.00 to $126.00 and gave the company a buy rating in a report on Thursday, October 21st. The Goldman Sachs Group began coverage on MasTec in a report on Friday, September 17th. They set a buy rating and a $120.00 price target on the stock. Finally, Cowen reduced their price target on MasTec from $120.00 to $115.00 and set an outperform rating on the stock in a report on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec presently has an average rating of Buy and an average target price of $116.82.

MasTec stock traded down $0.99 during trading hours on Thursday, hitting $100.58. 527,288 shares of the stock traded hands, compared to its average volume of 804,643. The firm’s 50-day moving average price is $90.73 and its two-hundred day moving average price is $98.91. The company has a current ratio of 1.52, a quick ratio of 1.46 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.47 billion, a PE ratio of 20.32 and a beta of 1.26. MasTec has a one year low of $55.64 and a one year high of $122.33.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, November 4th. The construction company reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.12. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.28 billion. MasTec had a return on equity of 19.79% and a net margin of 4.70%. The business’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 EPS. On average, sell-side analysts expect that MasTec will post 5.31 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in MasTec stock. LPL Financial LLC lifted its stake in MasTec, Inc. (NYSE:MTZ) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,517 shares of the construction company’s stock after purchasing an additional 266 shares during the quarter. LPL Financial LLC’s holdings in MasTec were worth $821,000 as of its most recent filing with the Securities & Exchange Commission. 71.98% of the stock is owned by institutional investors and hedge funds.

About MasTec

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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