MasTec, Inc. (MTZ) Receives Buy Rating from Stifel Nicolaus
MasTec, Inc. (NYSE:MTZ)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a note issued to investors on Friday. They currently have a $55.50 price objective on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 31.36% from the company’s current price.
A number of other brokerages have also recently weighed in on MTZ. Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Deutsche Bank AG upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, September 12th. ValuEngine cut shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. FBR & Co lifted their price target on shares of MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered shares of MasTec from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.36.
MasTec (NYSE:MTZ) traded down 2.87% during midday trading on Friday, reaching $42.25. 1,804,580 shares of the company’s stock traded hands. The firm’s 50-day moving average is $43.66 and its 200-day moving average is $43.41. MasTec has a 1-year low of $27.10 and a 1-year high of $49.50. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 14.90 and a beta of 1.45.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business 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 earned $0.36 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. Analysts forecast that MasTec will post $2.74 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in MasTec by 29.1% in the second quarter. BNP Paribas Arbitrage SA now owns 54,836 shares of the construction company’s stock worth $2,476,000 after acquiring an additional 12,345 shares during the last quarter. BlackRock Inc. lifted its stake in MasTec by 15,957.0% in the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock worth $207,953,000 after acquiring an additional 5,160,001 shares during the last quarter. Vanguard Group Inc. lifted its stake in MasTec by 4.9% in the second quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock worth $325,963,000 after acquiring an additional 335,076 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in MasTec by 39.4% in the first quarter. Goldman Sachs Group Inc. now owns 144,000 shares of the construction company’s stock worth $5,767,000 after acquiring an additional 40,682 shares during the last quarter. Finally, Timpani Capital Management LLC lifted its stake in MasTec by 3.3% in the second quarter. Timpani Capital Management LLC now owns 121,662 shares of the construction company’s stock worth $5,493,000 after acquiring an additional 3,909 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.
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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