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News Breaks
June 30, 2014
08:31 EDTMTZMasTec expands acquires Paper Construction
MasTec announced that it has acquired Pacer Construction Holdings Corporation and its affiliated operating companies. Pacer is a contractor in Western Canada, focusing on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries. Pacer is headquartered in Calgary, Alberta, Canada and also has a strong presence in, among other locations, Fort McMurray, Fort McKay and Edmonton, Alberta and Regina, Saskatchewan. MasTec acquired all of the issued and outstanding equity interests of Pacer for approximately $126M in cash plus a 5-year contingent earn-out. At closing, Pacer had approximately $54M in tangible net worth. MasTec also amended its senior secured credit facility, increasing the aggregate borrowing commitments from $750 million to $1 billion, adding the capability to borrow in Mexican Pesos and increasing the amount that can be borrowed in these alternative currencies from $100 million to $200 million.
News For MTZ From The Last 14 Days
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December 17, 2014
07:06 EDTMTZMasTec authorizes repurchase of up to $100M of stock
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07:05 EDTMTZMasTec backs previously issued Q4 guidance
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07:03 EDTMTZMasTec lowers FY15 adjusted EPS view to $1.87 from $2.00-$2.15
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December 16, 2014
09:00 EDTMTZMasTec recent weakness overdone, says FBR Capital
FBR Capital said the recent weakness in shares of MasTec overdone and the firm raised its price target on the stock to $39 from $35 following meetings with management that highlighted its opportunities and addressed concerns. The firm maintains its Outperform rating on MasTec.
December 15, 2014
08:22 EDTMTZMasTec price target lowered to $25.50 from $34.50 at Stifel
Stifel cut its price target on MasTec after the firm cut its estimate for the company to reflect the headwinds from lower oil prices and a more challenging AT&T wireless capex environment. However, the firm thinks the 21% decline in the stock since December 5 was overdone. It keeps a Buy rating on the shares.

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