Analysts Offer Predictions for MasTec, Inc.’s Q2 2024 Earnings (NYSE:MTZ)

MasTec, Inc. (NYSE:MTZ) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for MasTec in a research note issued on Tuesday, May 7th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $0.79 for the quarter. DA Davidson has a “Buy” rating and a $120.00 price target on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.33 per share. DA Davidson also issued estimates for MasTec’s FY2024 earnings at $2.59 EPS and FY2025 earnings at $4.21 EPS.

MTZ has been the topic of a number of other research reports. KeyCorp increased their price target on MasTec from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird lifted their price target on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup upped their price objective on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. UBS Group boosted their target price on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus raised their price target on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Trading Down 0.1 %

MTZ stock opened at $105.67 on Wednesday. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The firm has a market cap of $8.40 billion, a P/E ratio of -754.79 and a beta of 1.61. The company’s 50-day simple moving average is $89.26 and its 200-day simple moving average is $73.70.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%.

Institutional Trading of MasTec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DMC Group LLC grew its stake in shares of MasTec by 5.5% in the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after buying an additional 147 shares in the last quarter. MONECO Advisors LLC increased its stake in MasTec by 4.8% during the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after purchasing an additional 150 shares during the period. New York State Teachers Retirement System lifted its position in shares of MasTec by 0.8% during the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $2,476,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of MasTec by 30.9% in the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after purchasing an additional 212 shares during the period. Finally, Bridge City Capital LLC grew its holdings in shares of MasTec by 0.8% in the first quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock valued at $3,078,000 after purchasing an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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 five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.