MasTec (NYSE:MTZ) Releases Q2 2024 Earnings Guidance

MasTec (NYSE:MTZ) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.880-0.880 for the period, compared to the consensus earnings per share estimate of 0.890. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.2 billion. MasTec also updated its FY 2024 guidance to 2.950-2.950 EPS.

Analysts Set New Price Targets

MTZ has been the topic of a number of recent research reports. Truist Financial restated a hold rating and issued a $109.00 price target (up from $96.00) on shares of MasTec in a research report on Monday. Robert W. Baird increased their price target on MasTec from $89.00 to $110.00 and gave the company a neutral rating in a research note on Monday. KeyCorp boosted their price objective on MasTec from $104.00 to $113.00 and gave the stock an overweight rating in a research note on Monday. B. Riley raised their target price on MasTec from $104.00 to $120.00 and gave the company a buy rating in a research note on Monday. Finally, Citigroup boosted their price target on shares of MasTec from $99.00 to $104.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $107.23.

MasTec Stock Up 4.2 %

MasTec stock traded up $4.24 during mid-day trading on Monday, hitting $106.04. 757,078 shares of the company’s stock were exchanged, compared to its average volume of 923,611. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock has a market cap of $8.43 billion, a P/E ratio of -757.57 and a beta of 1.61. The stock has a 50 day moving average of $87.95 and a two-hundred day moving average of $73.09. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. As a group, analysts anticipate that MasTec will post 2.33 EPS for the current fiscal year.

MasTec Company Profile

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.