MasTec, Inc. (MTZ) Receives Consensus Rating of “Buy” from Analysts
MasTec, Inc. (NYSE:MTZ) has been assigned a consensus rating of “Buy” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $53.74.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and issued a $55.50 price objective on shares of MasTec in a research note on Saturday, August 19th. Canaccord Genuity restated a “buy” rating and issued a $55.00 price objective on shares of MasTec in a research note on Tuesday, August 15th. FBR & Co raised their price objective on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Finally, KeyCorp restated a “buy” rating and issued a $51.00 price objective on shares of MasTec in a research note on Tuesday, September 19th.
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Shares of MasTec (NYSE MTZ) traded up 0.23% during trading on Wednesday, reaching $43.35. The company’s stock had a trading volume of 841,022 shares. The firm’s 50-day moving average is $43.96 and its 200-day moving average is $43.53. The stock has a market capitalization of $3.51 billion, a PE ratio of 15.29 and a beta of 1.45. MasTec has a 12-month low of $27.10 and a 12-month high of $49.50.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue was up 53.4% compared to the same quarter last year. Equities analysts expect that MasTec will post $2.74 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its holdings in MasTec by 0.6% during the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock worth $240,000 after acquiring an additional 30 shares during the period. Comerica Bank grew its holdings in MasTec by 0.3% during the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock worth $1,295,000 after acquiring an additional 88 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in MasTec by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after acquiring an additional 139 shares during the period. UBS Asset Management Americas Inc. grew its holdings in MasTec by 0.3% during the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after acquiring an additional 146 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in MasTec by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after acquiring an additional 197 shares during the period. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
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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