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Tue, Feb. 10, 6:47 PM
- Figuring the debt markets are a bit more rational than the equity markets right now, Wunderlich analysts look to the bond market for some clues about energy investing.
- The firm finds that where Chesapeake Energy's (NYSE:CHK) debt is trading now as "quite refreshing" given the strong balance sheet the company has built, strengthening its conviction that CHK is a Best idea among oil stocks; others holding up well, it says, are financially strong names such as XEC, CXO, EGN, EOG, GPOR, MTZ, NBL, PTEN, PDCE, PXD and ROSE.
- In other cases, the debt is providing “equity-like returns” for investors who want to move out of stocks and into bonds, with the firm mentioning AREX, BBG, CWEI and NOG.
Dec. 17, 2014, 8:08 AM
- Reflecting the uncertainties of oil prices and lower levels of wireless project activity, MasTec (NYSE:MTZ) has reduced its 2015 expectations.
- The company now anticipates revenue to increase 9% over expected 2014 revenue to $5B, with continuing operations adjusted EBITDA margin of approximately 10% of revenue, and continuing operations adjusted diluted EPS of $1.87.
- MasTec's board has also authorized the repurchase of up to $100M of common stock.
Nov. 10, 2014, 12:59 PM
Oct. 31, 2014, 9:08 AM
- Net income from continuing operations of $48.3M, or $0.56 per diluted share vs. $51.8M, or $0.61 per diluted share in the same quarter a year ago.
- Revenue by segment: Oil & Gas +7.4%; Electrical Transmission +11.6%; Power Generation and Industrial +34.4%; Communications -7%.
- Guidance for 2014: Revenue of approximately $4.6B, with continuing operations adjusted diluted EPS approximately $1.55.
- Guidance for 2015: Revenue will increase 13-17% over expected 2014 revenue to $5.2B-$5.4B, with continuing operations adjusted diluted EPS in the range of $2.00-$2.15.
- Q3 results
Oct. 30, 2014, 4:37 PM
Sep. 9, 2014, 8:11 AM
- Investors might find power-line builder MYR Group (NASDAQ:MYRG) a way to capitalize on the $3.6T need to upgrade U.S. infrastructure as well as an intriguing takeover possibility, Bloomberg speculates.
- MYR is on the short list of companies capable of building the largest transmission systems in the U.S., making it a prime acquisition candidate deserving of a 40% premium, according to FBR Capital.
- A strong balance sheet and the cheapest valuation among peers make it attractive for a leveraged buyout, Avondale Partners says, citing MasTec (NYSE:MTZ), Quanta Services (NYSE:PWR) and Primoris (NASDAQ:PRIM) as firms that could be drawn to MYR for its specialized equipment and trained labor force.
Aug. 12, 2014, 9:25 AM
- Net income from continuing operations of $32.1M, or $0.37 per diluted share vs. $35.5M, or $0.42 per diluted share for the second quarter of 2013.
- Revenue of $1.1B vs. $978M for the prior year quarter.
- "We had a challenging second quarter, primarily because of slowdown in revenue growth of wireless projects." says CEO Jose Mas.
- For Q3 of 2014, the company expects revenue of approximately $1.30-$1.35B, continuing operations adjusted EBITDA of ~$132M with adjusted diluted earnings per share of approximately $0.56.
- Q2 results
Aug. 11, 2014, 4:33 PM
Aug. 10, 2014, 5:35 PM
Jun. 30, 2014, 2:58 PM
- MasTec (MTZ +3.6%) says it acquired Pacer Construction Holdings and its affiliated operating companies for ~$126M in cash plus a five-year contingent earn-out.
- Pacer is a contractor in western Canada which focuses on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries.
- MTZ also says it amended its senior secured credit facility, increasing aggregate borrowing commitments to $1B from $750M.
Jun. 2, 2014, 12:51 PM
- MasTec (MTZ -10.8%) shares plunge after the infrastructure construction company over the weekend lowered its outlook for Q2 earnings and revenue.
- MTZ now sees Q2 EPS of $0.40 from $0.53 earlier and Q2 revenues of ~$1.1B vs. prior $1.15B-$1.2B, expecting results to be hurt by new and unexpected delays in the wireless project spending activity as well as weaker than anticipated oil and gas segment results.
- More downside guidance could be in store; although management did not lower guidance for H2 2014, the door was left open to do so on the Q2 conference call.
Jun. 2, 2014, 9:16 AM
May. 1, 2014, 5:10 PM
Feb. 27, 2014, 5:58 PM
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