MasTec (MTZ) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $0.23. The company posted revenue of $1232.40 million in the period, compared to analysts expectations of $1159.85 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on MasTec. Company shares were Reiterated by Maxim Group on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .Company shares were Reiterated by FBR Capital on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .
MasTec opened for trading at $24.44 and hit $24.58 on the upside on Tusday, eventually ending the session at $24.41, with a gain of 0.08% or 0.02 points. The heightened volatility saw the trading volume jump to 8,63,154 shares. Company has a market cap of $2,008 M.
In a different news, on Jun 23, 2016, Robert E Apple (COO) sold 13,739 shares at $23.75 per share price. According to the SEC, on Mar 23, 2016, Robert J Dwyer (director) sold 5,860 shares at $19.96 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.