MasTec, Inc. (MTZ) Given Consensus Recommendation of “Buy” by Brokerages
MasTec, Inc. (NYSE:MTZ) has been assigned a consensus recommendation of “Buy” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.36.
A number of analysts recently issued reports on MTZ shares. Deutsche Bank AG raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, September 12th. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, August 8th. Vetr cut MasTec from a “buy” rating to a “hold” rating and set a $47.14 price objective on the stock. in a report on Monday, June 12th. ValuEngine cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co increased their price objective on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th.
Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. BlackRock Inc. raised its holdings in shares of MasTec by 15,957.0% during the 1st quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after buying an additional 5,160,001 shares in the last quarter. Prudential Financial Inc. grew its position in MasTec by 126.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock worth $67,033,000 after acquiring an additional 829,650 shares during the last quarter. Vanguard Group Inc. grew its position in MasTec by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock worth $275,723,000 after acquiring an additional 743,879 shares during the last quarter. Gotham Asset Management LLC bought a new position in MasTec during the 2nd quarter worth approximately $19,803,000. Finally, Koch Industries Inc. bought a new position in MasTec during the 2nd quarter worth approximately $429,000. 70.62% of the stock is currently owned by institutional investors.
MasTec (NYSE MTZ) traded down 0.43% on Friday, reaching $46.70. The company had a trading volume of 345,879 shares. The stock has a market capitalization of $3.78 billion, a P/E ratio of 16.47 and a beta of 1.44. MasTec has a 12-month low of $27.10 and a 12-month high of $49.50. The stock’s 50-day moving average price is $41.66 and its 200-day moving average price is $42.63.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that MasTec will post $2.74 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. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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