Robert W. Baird Upgrades MasTec, Inc. (MTZ) to Outperform
MasTec, Inc. (NYSE:MTZ) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday. The firm presently has a $53.00 price target on the construction company’s stock, up from their previous price target of $51.00. Robert W. Baird’s price target points to a potential upside of 21.42% from the stock’s previous close.
Several other equities analysts have also recently issued reports on MTZ. Credit Suisse Group raised MasTec from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $46.00 to $55.00 in a research report on Monday, July 24th. ValuEngine raised MasTec from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. FBR & Co increased their price target on MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 8th. Finally, BidaskClub cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.14.
Shares of MasTec (NYSE:MTZ) opened at $43.65 on Monday. The company has a market capitalization of $3,720.09, a P/E ratio of 14.93, a PEG ratio of 1.21 and a beta of 1.54. MasTec has a 12-month low of $28.55 and a 12-month high of $49.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. research analysts predict that MasTec will post 2.66 earnings per share for the current year.
Several institutional investors have recently modified their holdings of MTZ. BlackRock Inc. grew its position in shares of MasTec by 15,957.0% during the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after purchasing an additional 5,160,001 shares in the last quarter. Prudential Financial Inc. grew its position in shares of MasTec by 126.7% during the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after purchasing an additional 829,650 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of MasTec during the second quarter valued at about $19,803,000. Koch Industries Inc. purchased a new position in shares of MasTec during the second quarter valued at about $429,000. Finally, Macquarie Group Ltd. grew its position in shares of MasTec by 15.3% during the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after purchasing an additional 404,076 shares in the last quarter. Hedge funds and other institutional investors own 70.71% 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. 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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