MasTec, Inc. (NYSE:MTZ) rose 5.8% on Friday following a better than expected earnings announcement. The stock traded as high as $51.77 and last traded at $47.73. Approximately 5,960,134 shares were traded during trading, an increase of 474% from the average daily volume of 1,038,010 shares. The stock had previously closed at $45.10.
The construction company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. MasTec had a return on equity of 17.25% and a net margin of 5.89%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share.
MTZ has been the topic of several research reports. ValuEngine lowered MasTec from a “hold” rating to a “sell” rating in a research note on Friday, August 24th. Robert W. Baird upgraded MasTec from a “neutral” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Tuesday, August 7th. Citigroup restated a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 8th. Finally, Canaccord Genuity restated a “buy” rating and issued a $65.00 target price on shares of MasTec in a research note on Friday, August 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $60.64.
Large investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC raised its stake in shares of MasTec by 79.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock valued at $141,000 after purchasing an additional 1,225 shares during the period. Profit Investment Management LLC raised its stake in shares of MasTec by 2.6% during the 3rd quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,304 shares during the period. Wellington Shields Capital Management LLC bought a new stake in shares of MasTec during the 2nd quarter valued at $203,000. UBP Investment Advisors SA bought a new stake in shares of MasTec during the 3rd quarter valued at $223,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of MasTec by 66.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,700 shares of the construction company’s stock valued at $239,000 after purchasing an additional 1,880 shares during the period. Institutional investors own 83.30% of the company’s stock.
The company has a debt-to-equity ratio of 1.07, a current ratio of 1.82 and a quick ratio of 1.74. The company has a market cap of $3.83 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43.
MasTec Company Profile (NYSE:MTZ)
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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