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MasTec's 2018 Results: A Lot To Like Here

March 4, 2019

Summary:

- MasTec reported Q4 2018 results that beat the top- and bottom-line estimates. Additionally, management raised their forward guidance due to the company's strong business prospects for 2019.

- I believe that MasTec's stock is trading at attractive levels and that the company is well positioned for 2019 and beyond.

- I'm long MTZ shares and I have no plans to reduce my stake in the near future.

 

MasTec ($MTZ) reported blow out Q4 and full-year 2018 results, and the market liked what it heard, as shown by the fact that MTZ shares shot up by more than 8%. However, let's not get too excited because MasTec's stock is still underperforming the broader market by a wide margin over the last 52 weeks.

 

I recently provided three reasons why I thought that investors should stay long MasTec in a December 2018 article (i.e., the growing backlog, the capital return potential, and a change in investor sentiment) and, in my opinion, the Q4 and full-year 2018 results show that this small-cap infrastructure company still has promising business prospects. As such, investors with a time horizon longer than 2-to-3 years should seriously consider staying the course.

 

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