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MasTec: Still Worthy Of Investment Dollars

November 4, 2019

Summary:

- MasTec reported strong Q3 2019 results that beat the bottom-line estimates. Additionally, management raised their earnings guidance for full-year 2019.

- I believe that MasTec's stock is still trading at attractive levels and that the company is well-positioned for 2020 and beyond.

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

 

MasTec ($MTZ) reported strong Q3 2019 results, and the market liked what it heard, as shown by the fact that MTZ shares shot up by almost 9%. On a YTD basis, MTZ shares are now outperforming the broader market by a very wide margin.

 

The solid stock performance so far in 2019 has been nice but, in my opinion, MasTec is still worthy of investment dollars even after the recent run-up. And it helps the bull case that the Q3 2019 results show that this small-cap infrastructure company still has promising business prospects.

 

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