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MasTec Inc MTZ

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Stock XNYS Rating as of
$63.12 +2.48 (4.09%)
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Company Report

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MasTec Earnings: Challenges With IEA Acquisition Cause Another Guidance Cut

Brett Castelli

We lower our fair value estimate for no-moat MasTec to $70 per share from $86 after the company’s third-quarter earnings in which it lowered 2023 guidance. The main driver of our lower valuation is lower revenue growth and margin expansion versus our prior estimates. MasTec shares are trading down 17% pre-market following the guidance cut. We view shares as undervalued given low expectations following a challenging 2023 for the company.

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Price vs Fair Value

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MTZ is trading within a range we consider fairly valued.
Price
$63.12
Fair Value
$82.00
Uncertainty
High
1-Star Price
$118.60
5-Star Price
$11.00
Economic Moat
Stth
Capital Allocation
Mpmbzysg

Bulls Say, Bears Say

Bulls

MasTec should benefit from secular growth investments in energy transition and 5G deployment.

Bears

Persistent inflation could be a headwind for MasTec’s operations and customer base.

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News

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Trading Information

Previous Close Price
$60.64
Day Range
$59.24–63.42
52-Week Range
$44.65–123.33
Bid/Ask
$62.74 / $63.70
Market Cap
$4.98 Bil
Volume/Avg
1.4 Mil / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
27.09
Price/Sales
0.42
Dividend Yield
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company’s primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: 1) communications; 2) clean energy and infrastructure; 3) oil and gas; 4) power delivery, and 5) other.
Sector
Industrials
Industry
Engineering & Construction
Stock Style Box
Small Core
Total Number of Employees
37,000
Website
https://www.mastec.com

Competitors

Valuation

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Metric
MTZ
ATRL
FLR
Price/Earnings (Normalized)
 27.0933.0515.71
Price/Book Value
 1.842.453.53
Price/Sales
 0.420.910.37
Price/Cash Flow
 10.0744.9023.04
Price/Earnings
MTZ
ATRL
FLR

Financial Strength

Metric
MTZ
ATRL
FLR
Quick Ratio
 1.320.761.50
Current Ratio
 1.440.821.61
Interest Coverage
 0.691.603.03
Quick Ratio
MTZ
ATRL
FLR

Profitability

Metric
MTZ
ATRL
FLR
Return on Assets (Normalized)
 0.90%2.13%2.28%
Return on Equity (Normalized)
 3.01%7.05%8.84%
Return on Invested Capital (Normalized)
 3.73%5.79%1.21%
Return on Assets
MTZ
ATRL
FLR

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