Avondale Partners Downgrades MasTec Inc. (MTZ) to Market Perform
MasTec Inc. (NYSE:MTZ) was downgraded by equities research analysts at Avondale Partners from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday.
A number of other brokerages have also issued reports on MTZ. DA Davidson lowered shares of MasTec from a “buy” rating to a “neutral” rating and increased their target price for the company from $34.00 to $39.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on shares of MasTec from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 14th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, November 10th. Robert W. Baird started coverage on shares of MasTec in a research report on Thursday, August 25th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of MasTec in a research report on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.30.
MasTec (NYSE:MTZ) opened at 35.75 on Friday. The company’s 50-day moving average is $30.58 and its 200 day moving average is $26.90. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 3250.00 and a beta of 1.22. MasTec has a 12 month low of $12.44 and a 12 month high of $38.05.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The firm earned $1.59 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.26 EPS. On average, equities research analysts predict that MasTec will post $1.74 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of MasTec during the second quarter valued at approximately $2,095,000. 1st Global Advisors Inc. bought a new stake in MasTec during the second quarter worth about $216,000. Nordea Investment Management AB raised its stake in MasTec by 3.5% in the second quarter. Nordea Investment Management AB now owns 121,849 shares of the company’s stock worth $2,720,000 after buying an additional 4,085 shares during the period. Kessler Investment Group LLC bought a new stake in MasTec during the second quarter worth about $382,000. Finally, Daruma Capital Management LLC raised its stake in MasTec by 9.8% in the first quarter. Daruma Capital Management LLC now owns 2,872,171 shares of the company’s stock worth $58,133,000 after buying an additional 257,060 shares during the period. Institutional investors own 73.27% of the company’s stock.
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.