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MasTec: Not A Great Quarter But The Company's Future Looks Bright
Summary:
- MasTec reported Q2 2018 results that beat on the bottom-line but that missed the top-line estimate.
- However, the company is expected to report strong operating results over the second half of 2018.
- I believe that MasTec has great long-term business prospects so I plan to stay long the stock.
On August 2, 2018, MasTec ($MTZ) reported mixed Q2 2018 results that were not well-received by the market. Since the Q2 2018 results were released, MTZ shares are down by almost 2%, which brings the YTD stock performance to approximately (5)%.
In my opinion, the underperformance for the stock has created a buying opportunity. I believe that MasTec has a promising backdrop and the company has great long-term business prospects in place, even though the most recent quarterly results were nothing to brag about.
Read more here.