MasTec (MTZ) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.78-1.83 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.90. The company issued revenue guidance of $3.9-4.0 billion, compared to the consensus revenue estimate of $3.93 billion.MasTec also updated its Q1 guidance to approx $0.24 EPS.
Shares of MasTec (MTZ) traded down 0.36% during mid-day trading on Thursday, hitting $30.09. MasTec (MTZ) has a one year low of $12.86 and a one year high of $30.84. The stock’s 50-day moving average is currently $28.37. The company has a market cap of $2.286 billion and a P/E ratio of 31.36.
MasTec last issued its quarterly earnings data on Thursday, February 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $932.36 million for the quarter, compared to the consensus estimate of $891.60 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. MasTec has set its Q1 guidance at approx $0.24 EPS and its FY13 guidance at $1.78-1.83 EPS. Analysts expect that MasTec (MTZ) will post $1.51 EPS for the current fiscal year.
MTZ has been the subject of a number of recent research reports. Analysts at FBR Capital raised their price target on shares of MasTec from $27.00 to $32.00 in a research note to investors on Monday, January 28th. They now have an outperform rating on the stock. On a related note, analysts at Barclays Capital raised their price target on shares of MasTec from $29.00 to $34.00 in a research note to investors on Wednesday, January 23rd. They now have an overweight rating on the stock. Finally, analysts at Citigroup initiated coverage on shares of MasTec in a research note to investors on Thursday, December 20th. They set a buy rating and a $30.00 price target on the stock.
Five investment analysts have rated the stock with a buy rating, and two have given a hold rating to the stock. The stock currently has an average rating of overweight and a consensus target price of $30.86.
Mastec, Inc. is a specialty contractor operating throughout the United States and across a range of industries.
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