MasTec (NYSE:MTZ) Shares Gap Down Following Weak Earnings

Shares of MasTec, Inc. (NYSE:MTZ) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $324.44, but opened at $277.00. MasTec shares last traded at $265.8180, with a volume of 774,357 shares.

The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS.

More MasTec News

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: MasTec reported second-quarter revenue of $4.37 billion, up 23.4% year over year and above the approximately $4.30 billion consensus estimate. Earnings were $2.22 per share, up from $1.49 a year earlier and above the Zacks consensus of $2.19, although slightly below another analyst consensus of $2.23. MasTec Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management cited broad-based growth, execution-driven margin expansion and stronger backlog development. Adjusted EBITDA margin improved by 100 basis points, supporting the company’s profitability outlook. MasTec Reports Second Quarter 2026 Results
• Positive Sentiment: MasTec’s latest targets remain above analyst expectations: third-quarter guidance calls for $4.9 billion of revenue and $2.98 EPS, while full-year guidance calls for $18.2 billion of revenue and $9.30 EPS, versus consensus estimates of $4.7 billion, $2.74, $17.5 billion and $8.77, respectively.
• Neutral Sentiment: The appointment of attorney and investor Alex Spiro to MasTec’s board adds experience in corporate governance, regulatory matters and strategic transactions, but the announcement is unlikely to materially affect near-term earnings. MasTec Announces Alex Spiro Board Appointment
• Negative Sentiment: The market reaction suggests investors were more concerned about the change in the company’s outlook compared with its previous guidance than about the quarterly beat. Reports characterized the revised forecast as a guidance reduction that overshadowed the record quarter, pressuring the stock despite targets remaining above consensus. MasTec Falls After Guidance Cut

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings cut shares of MasTec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Stifel Nicolaus set a $455.00 target price on shares of MasTec in a research note on Monday, May 4th. Mizuho raised their target price on shares of MasTec from $498.00 to $502.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Guggenheim lifted their price target on shares of MasTec from $480.00 to $518.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird upped their price target on MasTec from $473.00 to $475.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $466.89.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the sale, the director directly owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the sale, the director owned 30,646 shares of the company’s stock, valued at approximately $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 21.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gables Capital Management Inc. boosted its position in MasTec by 30.3% during the fourth quarter. Gables Capital Management Inc. now owns 21,054 shares of the construction company’s stock valued at $4,577,000 after purchasing an additional 4,900 shares during the last quarter. Swedbank AB increased its position in MasTec by 5.2% in the 4th quarter. Swedbank AB now owns 64,300 shares of the construction company’s stock worth $13,977,000 after purchasing an additional 3,200 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in MasTec by 50.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 70,500 shares of the construction company’s stock valued at $15,325,000 after acquiring an additional 23,500 shares in the last quarter. Sanctuary Advisors LLC grew its position in MasTec by 463.6% in the fourth quarter. Sanctuary Advisors LLC now owns 13,527 shares of the construction company’s stock worth $2,940,000 after acquiring an additional 11,127 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in MasTec by 4,223.4% in the fourth quarter. Ameritas Advisory Services LLC now owns 2,767 shares of the construction company’s stock worth $601,000 after acquiring an additional 2,703 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 18.5%

The company’s 50 day moving average price is $367.93 and its 200 day moving average price is $333.67. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 45.83 and a beta of 1.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.32.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.