MasTec Analysts Increase Their Forecasts After Better-Than-Expected Earnings
Portfolio Pulse from Avi Kapoor
MasTec, Inc. (NYSE:MTZ) reported better-than-expected Q2 earnings, with adjusted EPS of 96 cents beating the consensus estimate of 87 cents. However, sales of $2.961 billion missed the $3.092 billion estimate. The company sees 2024 revenue of $12.4 billion and adjusted EPS of $3.03. Analysts have raised their price targets following the earnings announcement.
August 05, 2024 | 6:12 pm
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MasTec reported better-than-expected Q2 earnings but missed on sales. The company sees 2024 revenue of $12.4 billion and adjusted EPS of $3.03. Analysts have raised their price targets following the earnings announcement.
The better-than-expected earnings per share (EPS) and the raised price targets by analysts are positive indicators for MasTec's stock. However, the miss on sales and slightly lower revenue guidance for 2024 may temper some of the enthusiasm. Overall, the positive earnings surprise and analyst upgrades are likely to have a short-term positive impact on the stock price.
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