MasTec, Inc. (NYSE:MTZ) received a $54.00 price target from investment analysts at Citigroup Inc. in a research note issued to investors on Friday, October 27th. The firm presently has a “buy” rating on the construction company’s stock. Citigroup Inc.’s target price points to a potential upside of 25.87% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.50 price objective on shares of MasTec in a report on Friday, October 13th. Credit Suisse Group raised MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the company from $46.00 to $55.00 in a report on Monday, July 24th. Zacks Investment Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, ValuEngine downgraded MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. MasTec currently has an average rating of “Buy” and a consensus target price of $55.14.
MasTec (NYSE:MTZ) traded down $0.20 during midday trading on Friday, reaching $42.90. The company’s stock had a trading volume of 566,900 shares, compared to its average volume of 881,646. MasTec has a 52 week low of $33.30 and a 52 week high of $49.50. The firm has a market cap of $3,566.98, a P/E ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. sell-side analysts anticipate that MasTec will post 2.65 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. BlackRock Inc. lifted its holdings in shares of MasTec by 15,957.0% in the 1st quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock worth $207,953,000 after purchasing an additional 5,160,001 shares during the last quarter. Prudential Financial Inc. raised its stake in MasTec by 126.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after acquiring an additional 829,650 shares in the last quarter. Vanguard Group Inc. raised its stake in MasTec by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after acquiring an additional 743,879 shares in the last quarter. Gotham Asset Management LLC bought a new stake in MasTec during the 2nd quarter valued at $19,803,000. Finally, Koch Industries Inc. bought a new stake in MasTec during the 2nd quarter valued at $429,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
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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