MasTec (NYSE:MTZ – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.72-$0.72 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of $2.20 billion-$2.20 billion, compared to the consensus revenue estimate of $2.34 billion.MasTec also updated its FY 2022 guidance to $4.22-$4.47 EPS.
A number of research analysts recently commented on MTZ shares. Cowen boosted their price target on MasTec from $110.00 to $120.00 in a report on Thursday. B. Riley cut their price objective on MasTec from $120.00 to $104.00 in a research report on Friday, May 6th. Zacks Investment Research downgraded MasTec from a hold rating to a sell rating and set a $76.00 price objective on the stock. in a research report on Monday, May 2nd. Barclays dropped their price target on MasTec from $140.00 to $120.00 and set an overweight rating on the stock in a research report on Monday, February 28th. Finally, Cowen upped their price objective on MasTec from $110.00 to $120.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, MasTec currently has a consensus rating of Buy and an average price target of $106.83.
Shares of MasTec stock traded up $1.19 on Monday, hitting $84.28. The stock had a trading volume of 10,102 shares, compared to its average volume of 666,595. The company’s 50 day moving average price is $79.80 and its 200 day moving average price is $86.32. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 27.28 and a beta of 1.27. MasTec has a 52-week low of $70.72 and a 52-week high of $122.33.
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MasTec (NYSE:MTZ – Get Rating) last issued its earnings results on Thursday, May 5th. The construction company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.79 billion. MasTec had a return on equity of 12.91% and a net margin of 2.81%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS. Analysts predict that MasTec will post 4.04 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in MasTec by 2.4% during the 1st quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock valued at $489,168,000 after buying an additional 134,201 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of MasTec by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock worth $480,724,000 after purchasing an additional 447,376 shares during the period. State Street Corp raised its position in shares of MasTec by 6.0% in the 1st quarter. State Street Corp now owns 1,525,360 shares of the construction company’s stock worth $132,859,000 after buying an additional 86,807 shares during the period. Goldman Sachs Group Inc. raised its position in MasTec by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company’s stock valued at $111,948,000 after purchasing an additional 390,531 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in MasTec by 0.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 834,889 shares of the construction company’s stock valued at $72,719,000 after purchasing an additional 2,848 shares during the period. Institutional investors and hedge funds own 68.44% of the company’s stock.
MasTec Company Profile (Get Rating)
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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