KeyCorp Comments on MasTec Inc.’s FY2016 Earnings (MTZ)
MasTec Inc. (NYSE:MTZ) – Stock analysts at KeyCorp lifted their FY2016 earnings per share estimates for shares of MasTec in a research report issued to clients and investors on Monday. KeyCorp analyst M. Tucker now expects that the brokerage will post earnings of $1.61 per share for the year, up from their previous estimate of $1.50.
Several other brokerages have also weighed in on MTZ. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday. Robert W. Baird assumed coverage on MasTec in a research report on Thursday, August 25th. They issued a “neutral” rating and a $16.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and issued a $34.00 target price on shares of MasTec in a research report on Monday, November 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of MasTec in a research report on Friday, November 4th. Finally, Maxim Group increased their target price on MasTec from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of C$29.90.
MasTec (NYSE:MTZ) opened at 34.75 on Thursday. The stock’s 50 day moving average price is $29.43 and its 200 day moving average price is $26.26. The firm has a market cap of $2.80 billion, a P/E ratio of 3159.09 and a beta of 1.22. MasTec has a 1-year low of $12.44 and a 1-year high of $34.95.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business earned $1.59 billion during the quarter, compared to the consensus estimate of $1.50 billion. MasTec had a return on equity of 10.76% and a net margin of 0.02%. The business’s revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pillar Pacific Capital Management LLC bought a new stake in shares of MasTec during the second quarter valued at approximately $205,000. BlackRock Group LTD increased its stake in shares of MasTec by 27.4% in the first quarter. BlackRock Group LTD now owns 41,648 shares of the company’s stock valued at $843,000 after buying an additional 8,954 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of MasTec by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,611,808 shares of the company’s stock valued at $32,623,000 after buying an additional 24,673 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of MasTec by 32.6% in the second quarter. Hood River Capital Management LLC now owns 589,613 shares of the company’s stock valued at $13,160,000 after buying an additional 144,963 shares in the last quarter. Finally, Peconic Partners LLC increased its stake in shares of MasTec by 5.4% in the first quarter. Peconic Partners LLC now owns 4,878,991 shares of the company’s stock valued at $98,751,000 after buying an additional 250,000 shares in the last quarter. 72.56% of the stock is owned by institutional investors and hedge funds.
MasTec Company Profile
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.
Receive News & Stock Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related stocks with our FREE daily email newsletter.