MasTec, Inc (NYSE:MTZ) shares moved up 13% on Friday after the company announced better-than-anticipated results in the second-quarter and its outlook for the year.
The utility contractor reported that net income for the quarter moved down 33% to $30.1 million or 37 cents a share. Though the corporation announced net income of $44.5 million or 51 cents a share in previous year, it added a special gain of 20 cents a share on an investment in a transmission construction corporation.
The company reported that net income actually moved up almost 16% for the three months period and edged out Wall Street forecasts by a penny.
MasTec reported that revenue moved up 38% to $992.2 million from $716.9 million previous year. Analysts anticipated $889.5 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Quanta Services Inc (NYSE:PWR) increased +3.26% to settle at $24.71, The Shaw Group Inc. (NYSE:SHAW) moved up +1.10% to end at $39.47 while KBR, Inc. (NYSE:KBR) jumped +4.03% to finish on Friday at $26.60.
MasTec, Inc. (NYSE:MTZ) last session volume of 4.77 million shares was higher than its average volume of 1.12 million shares. The stock after opening at $17.51 hit high price of $18.88 and then closed at $18.09 by scoring +13.20%.
MTZ generated revenue of 3.38 billion in the following twelve months and earned $81.23 million. The Company showed a positive 2.41% in the net profit margin and as well as in its operating margin which remained 3.98%. Company’s annual sales growth for the past five year was +26.19%.
The MTZ past twelve months price to sales ratio was 0.41 and price to cash ratio remained 81.65. As far as the returns are concern, the MTZ return on equity was recorded as 9.81% and dropped 5.50% return on investment while its return on asset stayed at 3.85%.
The stock showed weekly upbeat performance of +12.50% which was maintained for the month at +12.78%. Likewise the positive performance for the quarter was recorded as +1.92% and for the year was +0.44% while the YTD performance remained at +4.15%.
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