MasTec, Inc. (NYSE:MTZ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

MasTec, Inc. (NYSE:MTZGet Rating) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $109.20.

A number of research firms recently weighed in on MTZ. Citigroup cut their target price on shares of MasTec from $109.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Cowen upped their price target on MasTec from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, August 8th. DA Davidson upped their price target on MasTec to $110.00 in a report on Monday, August 15th. Robert W. Baird upped their price target on MasTec from $83.00 to $106.00 in a report on Monday, August 8th. Finally, Credit Suisse Group upped their price target on MasTec from $102.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, August 8th.

Institutional Investors Weigh In On MasTec

Several large investors have recently modified their holdings of MTZ. Legacy Advisors LLC acquired a new stake in shares of MasTec in the first quarter valued at approximately $138,946,000. Nordea Investment Management AB lifted its holdings in shares of MasTec by 21.8% during the first quarter. Nordea Investment Management AB now owns 3,160,052 shares of the construction company’s stock worth $273,123,000 after purchasing an additional 565,274 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MasTec by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock worth $480,724,000 after purchasing an additional 447,376 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of MasTec by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company’s stock worth $111,948,000 after purchasing an additional 390,531 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of MasTec by 125.3% during the first quarter. Invesco Ltd. now owns 700,891 shares of the construction company’s stock worth $61,049,000 after purchasing an additional 389,752 shares during the period. 71.56% of the stock is owned by institutional investors and hedge funds.

MasTec Stock Down 2.1 %

MTZ stock opened at $78.36 on Thursday. The company’s 50 day moving average price is $79.30 and its 200 day moving average price is $79.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.61. MasTec has a fifty-two week low of $62.64 and a fifty-two week high of $104.21. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 34.52 and a beta of 1.25.

MasTec (NYSE:MTZGet Rating) last released its earnings results on Thursday, August 4th. The construction company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. MasTec had a net margin of 1.99% and a return on equity of 10.82%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts anticipate that MasTec will post 2.82 EPS for the current fiscal year.

MasTec Company Profile

(Get Rating)

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

See Also

Analyst Recommendations for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.