MasTec Inc. (MTZ) Lowered to “Neutral” at DA Davidson
DA Davidson downgraded shares of MasTec Inc. (NYSE:MTZ) from a buy rating to a neutral rating in a report issued on Wednesday. They currently have $39.00 price target on the stock. The analysts noted that the move was a valuation call.
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 target price on MasTec and gave the stock a buy rating in a report on Saturday, August 6th. Wunderlich raised their target price on MasTec from $28.00 to $35.00 and gave the stock a buy rating in a report on Monday, August 8th. FBR & Co raised their target price 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. raised their target price 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 assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of C$32.30.
MasTec (NYSE:MTZ) traded down 0.42% on Wednesday, reaching $35.40. The company had a trading volume of 397,980 shares. The stock has a market capitalization of $2.85 billion, a P/E ratio of 3218.18 and a beta of 1.22. MasTec has a 1-year low of $12.44 and a 1-year high of $38.05. The stock’s 50 day moving average is $30.09 and its 200-day moving average is $26.58.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.50 billion. MasTec had a return on equity of 10.76% and a net margin of 0.02%. The company’s revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that MasTec will post $1.74 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in MasTec during the third quarter valued at about $134,000. Meeder Asset Management Inc. acquired a new stake in MasTec during the third quarter valued at about $162,000. 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 during the period. 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 during the period. Finally, 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 during the period. 72.97% of the stock is owned by 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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