Stifel Nicolaus Increases MasTec Inc. (MTZ) Price Target to $40.00
MasTec Inc. (NYSE:MTZ) had its target price boosted by research analysts at Stifel Nicolaus from $35.00 to $40.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the stock.
Other analysts have also recently issued reports about the stock. Canaccord Genuity set a $33.00 target price on shares of MasTec and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Robert W. Baird initiated coverage on shares of MasTec in a research note on Thursday, August 25th. They issued a “neutral” rating and a $16.00 target price on the stock. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, July 27th. Citigroup Inc. increased their target price 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. Finally, Wunderlich increased their target price 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. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$31.80.
MasTec (NYSE:MTZ) opened at 37.90 on Monday. The stock’s 50 day moving average is $29.43 and its 200-day moving average is $26.26. MasTec has a one year low of $12.44 and a one year high of $34.95. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 3445.45 and a beta of 1.22.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 0.02% and a return on equity of 10.76%. MasTec’s revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. On average, equities research analysts expect that MasTec will post $1.74 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Robecosam AG raised its position in shares of MasTec by 18.2% in the third quarter. Robecosam AG now owns 6,500 shares of the company’s stock worth $194,000 after buying an additional 1,000 shares during the last quarter. Jane Street Group LLC raised its position in MasTec by 49.5% in the third quarter. Jane Street Group LLC now owns 36,653 shares of the company’s stock valued at $1,091,000 after buying an additional 12,138 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in MasTec by 922.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 164,539 shares of the company’s stock valued at $4,893,000 after buying an additional 148,447 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in MasTec during the third quarter valued at approximately $1,338,000. Finally, UBS Group AG raised its position in MasTec by 51.6% in the third quarter. UBS Group AG now owns 76,728 shares of the company’s stock valued at $2,282,000 after buying an additional 26,102 shares in the last quarter. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
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.
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