MasTec (NYSE:MTZ) Issues Quarterly Earnings Results

MasTec (NYSE:MTZGet Rating) announced its quarterly earnings data on Thursday. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08, Briefing.com reports. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.24 billion. MasTec had a net margin of 1.99% and a return on equity of 10.86%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 earnings per share.

MasTec Price Performance

Shares of NYSE:MTZ traded up $1.05 on Friday, reaching $81.29. The company’s stock had a trading volume of 788,904 shares, compared to its average volume of 749,631. MasTec has a 52-week low of $62.64 and a 52-week high of $104.21. The company has a market cap of $6.17 billion, a P/E ratio of 35.81 and a beta of 1.28. The company has a 50-day simple moving average of $75.70 and a 200 day simple moving average of $80.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.49.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. lifted its holdings in shares of MasTec by 8.1% in the 1st quarter. Vontobel Holding Ltd. now owns 11,591 shares of the construction company’s stock worth $998,000 after acquiring an additional 866 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of MasTec by 174.8% in the 1st quarter. Moors & Cabot Inc. now owns 8,410 shares of the construction company’s stock worth $733,000 after acquiring an additional 5,350 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of MasTec in the 1st quarter worth about $434,000. Neuberger Berman Group LLC bought a new stake in shares of MasTec in the 1st quarter worth about $368,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of MasTec by 121.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock worth $360,000 after acquiring an additional 2,260 shares during the last quarter. 68.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of MasTec from $109.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 22nd. Cowen increased their price objective on shares of MasTec from $110.00 to $120.00 in a research note on Thursday, May 26th. Robert W. Baird reduced their price objective on shares of MasTec from $100.00 to $96.00 in a research note on Monday, May 9th. Credit Suisse Group cut their target price on shares of MasTec from $103.00 to $102.00 and set an “outperform” rating for the company in a research note on Tuesday, July 26th. Finally, Craig Hallum cut their target price on shares of MasTec from $108.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.73.

MasTec Company Profile

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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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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Earnings History for MasTec (NYSE:MTZ)

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