MasTec, Inc. (NYSE:MTZ) Forecasted to Post FY2023 Earnings of $4.82 Per Share

MasTec, Inc. (NYSE:MTZGet Rating) – Equities research analysts at KeyCorp cut their FY2023 earnings per share estimates for MasTec in a research report issued to clients and investors on Monday, January 16th. KeyCorp analyst S. Eastman now expects that the construction company will post earnings of $4.82 per share for the year, down from their prior forecast of $5.08. The consensus estimate for MasTec’s current full-year earnings is $2.79 per share.

Several other brokerages have also recently weighed in on MTZ. StockNews.com cut MasTec from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Cowen dropped their price target on shares of MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, December 27th. Cowen reduced their price objective on shares of MasTec from $125.00 to $120.00 in a research note on Tuesday, December 27th. Barclays lifted their target price on shares of MasTec from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. Finally, Credit Suisse Group raised their price target on MasTec from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.30.

MasTec Stock Down 1.5 %

NYSE MTZ opened at $93.68 on Wednesday. The stock has a market capitalization of $7.36 billion, a P/E ratio of 65.97 and a beta of 1.38. MasTec has a 52 week low of $62.36 and a 52 week high of $98.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a fifty day moving average of $89.47 and a 200-day moving average of $80.98.

MasTec (NYSE:MTZGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. MasTec had a net margin of 1.24% and a return on equity of 9.21%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.54 billion.

Hedge Funds Weigh In On MasTec

Several institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC lifted its stake in MasTec by 4.0% in the second quarter. Yousif Capital Management LLC now owns 33,167 shares of the construction company’s stock valued at $2,377,000 after buying an additional 1,265 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of MasTec by 6.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 32,495 shares of the construction company’s stock valued at $2,329,000 after purchasing an additional 1,830 shares during the period. Ronald Blue Trust Inc. bought a new stake in shares of MasTec in the second quarter valued at about $29,000. Frontier Capital Management Co. LLC boosted its position in shares of MasTec by 17.0% during the second quarter. Frontier Capital Management Co. LLC now owns 1,370,048 shares of the construction company’s stock worth $98,178,000 after buying an additional 199,039 shares during the period. Finally, US Bancorp DE grew its holdings in shares of MasTec by 1.0% during the second quarter. US Bancorp DE now owns 52,522 shares of the construction company’s stock worth $3,764,000 after buying an additional 510 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

MasTec Company Profile

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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.

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