MasTec (MTZ) Releases Earnings Results, Beats Expectations By $0.04 EPS

MasTec (MTZ) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.02. The company posted revenue of $974.20 million in the period, compared to analysts expectations of $951.17 million. The company’s revenue was down -2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on MasTec. Canaccord Genuity Initiated MasTec on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $23.Shares were Downgraded by Deutsche Bank on Apr 7, 2016 to ” Hold” and Lowered the Price Target to $ 20 from a previous price target of $22 .Company shares were Reiterated by Wunderlich on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $22 .

MasTec closed down -0.33 points or -1.47% at $22.17 with 5,44,315 shares getting traded on Wednesday. Post opening the session at $22.46, the shares hit an intraday low of $21.93 and an intraday high of $22.88 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 23, 2016, Robert J Dwyer (director) sold 5,860 shares at $19.96 per share price. According to the SEC, on Nov 17, 2015, Robert E Apple (COO) sold 11,324 shares at $42.45 per share price. On Aug 31, 2015, Julia L Johnson (director) purchased 15,000 shares at $15.81 per share price, according to the Form-4 filing with the securities and exchange commission.

MasTec Inc. is an infrastructure construction company. The Company’s primary activities include the engineering building installation maintenance and upgrade of communications energy and utility infrastructure such as wireless wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation and industrial infrastructure. The Company manages its operations under five operating segments: Communications; Oil and Gas; Electrical Transmission; Power Generation and Industrial and Other. The Company offers its services primarily under the MasTec service mark and it has operations across 460 locations. It provides services under master service and other service agreements which are generally multi-year agreements. It offers its service offerings in markets including wireless services; natural gas natural gas liquids and petroleum pipeline; and electrical transmission among others.


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