MasTec Inc. (MTZ) Stock Price Down 3.3%
Shares of MasTec Inc. (NYSE:MTZ) traded down 3.3% on Wednesday . The stock traded as low as $29.00 and last traded at $29.13, with a volume of 364,653 shares. The stock had previously closed at $30.11.
Several analysts have weighed in on the stock. Canaccord Genuity set a $33.00 price objective on shares of MasTec and gave the stock a “buy” rating in a research note on Saturday, August 6th. FBR & Co reiterated a “buy” rating on shares of MasTec in a research note on Tuesday, May 10th. Citigroup Inc. lifted their price objective on shares of MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Maxim Group lifted their price objective on shares of MasTec from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Finally, Robert W. Baird assumed coverage on shares of MasTec in a research report on Thursday, August 25th. They issued a “neutral” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of C$27.25.
The firm’s market cap is $2.37 billion. The firm has a 50 day moving average price of $27.37 and a 200-day moving average price of $22.64.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.14. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.16 billion. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that MasTec Inc. will post $1.58 earnings per share for the current fiscal year.
In other MasTec news, COO Robert E. Apple sold 40,000 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of C$23.57, for a total transaction of C$942,800.00. Following the completion of the sale, the chief operating officer now directly owns 243,567 shares in the company, valued at approximately C$5,740,874.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 13,739 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of C$23.77, for a total value of C$326,576.03. Following the sale, the chief operating officer now owns 207,306 shares of the company’s stock, valued at C$4,927,663.62. The disclosure for this sale can be found here.
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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