MasTec Inc. (MTZ) Hits New 1-Year High After Analyst Upgrade
MasTec Inc. (NYSE:MTZ) shares reached a new 52-week high during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $35.00 to $40.00. Stifel Nicolaus currently has a buy rating on the stock. MasTec traded as high as $37.80 and last traded at $37.80, with a volume of 566,800 shares trading hands. The stock had previously closed at $36.70.
A number of other research analysts have also weighed in on MTZ. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Canaccord Genuity set a $33.00 price objective on MasTec and gave the stock a “buy” rating in a report on Saturday, August 6th. Wunderlich upped their price objective on MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 8th. FBR & Co upped their price objective on MasTec from $25.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Finally, Citigroup Inc. upped their price objective on MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$32.30.
Hedge funds have recently modified their holdings of the stock. Robecosam AG increased its stake in shares of 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. Catalyst Capital Advisors LLC bought a new stake in shares of MasTec during the third quarter valued at about $134,000. Tower Research Capital LLC TRC increased its stake in shares of 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. increased its stake in shares of 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. Finally, Meeder Asset Management Inc. bought a new stake in shares of MasTec during the third quarter valued at about $162,000. Institutional investors and hedge funds own 72.97% of the company’s stock.
The company has a market cap of $2.86 billion, a price-to-earnings ratio of 3231.82 and a beta of 1.22. The stock’s 50 day moving average is $29.92 and its 200 day moving average is $26.51.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 3rd. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. MasTec had a return on equity of 10.76% and a net margin of 0.02%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue was up 42.8% compared to the same quarter last year. Analysts anticipate that MasTec Inc. will post $1.74 EPS for the current fiscal year.
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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