NEW YORK (TheStreet) -- Shares of Mas Tec Inc. (MTZ) are lower -11.39% to $31.90 on Monday after the company announced it is expecting its second quarter results "to be negatively impacted by new and unexpected delays in wireless project spending activity as well as weaker than expected oil and gas segment results."
The infrastructure construction company said it is expecting revenue for the 2014 second quarter to be about $1.1 billion, versus its previous estimate of $1.15 billion to $1.20 billion.
Adjusted EBITDA from continuing operations is now estimated to be $105 million, or 40 cents per diluted share. The company originally estimated $124 million, or 53 cents per diluted share for the 2014 second quarter.
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Mas Tec said it would provide full year guidance in its 2014 second quarter report which is estimated to be released in late July.
TheStreet Ratings team rates MASTEC INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MASTEC INC (MTZ) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."