*MasTec reported better-than-expected Q1 2020 operating results and it was encouraging that management also provided forward guidance.
*This company is well-positioned for 2021 and beyond, which makes MasTec's stock a long-term buy even in today's environment.
*MasTec is a long-term buy at today's price.
On April 30, 2020, MasTec ($MTZ) reported better-than-expected Q1 2020 results and management provided strong full-year guidance and, as you can expect, the stock finished the trading day higher by ~3% (on a day that the S&P 500 traded lower by ~3%). However, MTZ shares are still significantly underperforming the broader market on a YTD basis.
It is very impressive, in my opinion, that MasTec not only reported solid Q1 2020 results but that management also provided guidance for the remainder of the current year. Providing any type of guidance in this environment is a positive development but providing strong guidance is saying something. As I've mentioned previously over the past few quarters, I believe that the significant pullback in MTZ shares has created a great long-term (let me stress long-term) buying opportunity because this company has promising business prospects in several key industries.
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