MasTec Inc. (MTZ) Receives Consensus Rating of “Buy” from Brokerages
MasTec Inc. (NYSE:MTZ) has been assigned an average rating of “Buy” from the fourteen brokerages that are covering the stock. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$27.80.
Several research firms have issued reports on MTZ. Zacks Investment Research downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Canaccord Genuity set a $33.00 price objective on shares of MasTec and gave the stock a “buy” rating in a research note on Saturday, August 6th. Wunderlich boosted their price objective on shares of MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. FBR & Co boosted their price objective on shares of MasTec from $25.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Finally, Citigroup Inc. boosted their price objective on shares of MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th.
Shares of MasTec (NYSE:MTZ) traded down 0.086% during midday trading on Monday, reaching $29.125. 110,444 shares of the company traded hands. The company has a 50 day moving average of $29.02 and a 200 day moving average of $25.03. MasTec has a 12 month low of $12.44 and a 12 month high of $31.15. The firm’s market capitalization is $2.34 billion.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.14. MasTec had a negative net margin of 1.10% and a positive return on equity of 6.18%. The firm earned $1.23 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. MasTec’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that MasTec will post $1.58 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Robecosam AG boosted its stake in MasTec by 14.6% in the second quarter. Robecosam AG now owns 5,500 shares of the company’s stock valued at $119,000 after buying an additional 700 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in MasTec by 279.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the company’s stock valued at $139,000 after buying an additional 4,592 shares in the last quarter. BlackRock Inc. boosted its stake in MasTec by 41.5% in the first quarter. BlackRock Inc. now owns 7,520 shares of the company’s stock valued at $153,000 after buying an additional 2,205 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in MasTec by 107.4% in the third quarter. BNP Paribas Arbitrage SA now owns 5,674 shares of the company’s stock valued at $169,000 after buying an additional 2,938 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in MasTec during the second quarter valued at about $194,000. 72.38% of the stock is currently owned by hedge funds and other institutional investors.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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