MasTec (NYSE:MTZ – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.240-1.240 for the period, compared to the consensus estimate of 1.220. The company issued revenue guidance of $3.5 billion-$3.5 billion, compared to the consensus revenue estimate of $3.4 billion. MasTec also updated its FY 2024 guidance to 3.030-3.030 EPS.
MasTec Price Performance
Shares of MasTec stock traded down $4.02 during trading hours on Thursday, reaching $106.01. The stock had a trading volume of 1,718,072 shares, compared to its average volume of 876,481. The stock’s 50 day moving average is $107.52 and its 200 day moving average is $92.51. The firm has a market capitalization of $8.42 billion, a PE ratio of -758.00 and a beta of 1.65. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.
MasTec (NYSE:MTZ – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.33. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. Equities analysts expect that MasTec will post 2.59 earnings per share for the current fiscal year.
Analyst Ratings Changes
View Our Latest Research Report on MTZ
Insider Activity
In related news, Director C Robert Campbell sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at approximately $5,579,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director C Robert Campbell sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at approximately $5,579,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.
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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.
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