D.A. Davidson & Co. Sees Lower Q2 Earnings For MasTec

In a report published Tuesday, D.A. Davidson & Co. analyst John B. Rogers reiterated a Neutral rating and $34.00 price target on MasTec (NYSE: MTZ).

In the report, D.A. Davidson & Co. noted, “Reported EPS of $0.37 per share from continuing operations for the second quarter declined from $0.42 last year. Management also reported adjusted EPS of $0.40 (excluding certain expenses), compared to $0.47 last year. As shown in the attached model these results were in line with our estimates and management's recent guidance. On June 1st the company had reduced expectations for second quarter EPS from $0.50 ($0.53 adjusted) to $0.37 ($0.40 adjusted) due to delays in spending by wireless carriers.”

MasTec closed on Monday at $28.07.