MasTec (NYSE:MTZ) issued an update on its FY 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.93-4.93 for the period, compared to the Thomson Reuters consensus estimate of $4.63. The company issued revenue guidance of $7-7 billion, compared to the consensus revenue estimate of $7.38 billion.MasTec also updated its FY20 guidance to $4.93 EPS.

NYSE MTZ traded up $1.96 during trading hours on Friday, hitting $39.78. 2,416,167 shares of the company’s stock traded hands, compared to its average volume of 773,712. The firm has a market capitalization of $2.93 billion, a P/E ratio of 9.29 and a beta of 1.46. MasTec has a 52 week low of $22.51 and a 52 week high of $73.71. The business’s fifty day moving average price is $41.36 and its two-hundred day moving average price is $43.17. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.85.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.19. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. MasTec had a net margin of 4.81% and a return on equity of 19.25%. On average, sell-side analysts expect that MasTec will post 4.5 EPS for the current fiscal year.

A number of research firms have weighed in on MTZ. Craig Hallum dropped their price target on shares of MasTec from $85.00 to $71.00 and set a buy rating for the company in a research report on Monday, May 4th. Barclays restated a buy rating and set a $45.00 target price on shares of MasTec in a research report on Thursday, April 16th. KeyCorp upped their target price on shares of MasTec from $37.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, May 4th. DA Davidson dropped their target price on shares of MasTec from $75.00 to $41.00 and set a buy rating for the company in a research report on Tuesday, April 7th. Finally, UBS Group dropped their target price on shares of MasTec from $73.00 to $40.00 and set a neutral rating for the company in a research report on Wednesday, April 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. MasTec presently has a consensus rating of Buy and an average price target of $53.00.

In related news, Director Robert J. Dwyer sold 5,945 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total transaction of $244,280.05. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $616,350. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.90% 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Read More: Should I follow buy, hold and sell recommendations?

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.