NEW YORK (TheStreet) -- MasTec (MTZ) hit a ten-year high of $41.67 as of 3 p.m. EST on Friday after the infrastructure engineering and construction company reported fourth-quarter results and issued full-year guidance that beat analysts' expectations.
The company reported adjusted earnings per share of 53 cents, up from 47 cents in the same period one year ago. This edged the consensus estimate of 52 cents, according to analysts polled by Thomson Reuters. Revenue increased 24% year over year to $1.16 billion from $932.36 million, which beat analysts' estimate of $1.09 billion.
For the full year 2014, Mastec expects earnings per share of $2.27 to $2.30 on revenue of $4.65 billion to $4.7 billion, which edged the consensus estimate of $2.26 on revenue of $4.69 billion. The first-quarter guidance was not as rosy, though, as the company anticipates 20 cents a share on revenue of $920 million, which came up short of analysts' expectations of 38 cents a share on revenue of $1.04 billion.
TheStreet Ratings team rates MASTEC INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MASTEC INC (MTZ) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."