B. Riley Raises MasTec (NYSE:MTZ) Price Target to $72.00

MasTec (NYSE:MTZ) had its target price upped by B. Riley from $62.00 to $72.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s price objective suggests a potential upside of 24.59% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. KeyCorp upped their price objective on shares of MasTec from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $62.00) on shares of MasTec in a report on Monday. Credit Suisse Group reaffirmed an “outperform” rating and issued a $68.00 price objective (up previously from $62.00) on shares of MasTec in a report on Monday. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, May 9th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $76.00 price objective (up previously from $69.00) on shares of MasTec in a report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. MasTec presently has an average rating of “Buy” and a consensus target price of $64.17.

MTZ stock traded down $0.23 during trading on Monday, hitting $57.79. The company had a trading volume of 589,900 shares, compared to its average volume of 529,484. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The firm has a 50 day moving average price of $50.66. MasTec has a fifty-two week low of $37.24 and a fifty-two week high of $58.43. The company has a quick ratio of 1.70, a current ratio of 1.79 and a debt-to-equity ratio of 1.18.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.51. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.89%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. As a group, equities analysts predict that MasTec will post 4.4 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Weaver Consulting Group acquired a new stake in MasTec during the 1st quarter worth about $25,000. Endurance Wealth Management Inc. acquired a new stake in MasTec during the 1st quarter worth about $29,000. Amundi Pioneer Asset Management Inc. acquired a new stake in MasTec during the 4th quarter worth about $101,000. Advisory Services Network LLC raised its holdings in MasTec by 56.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock worth $109,000 after buying an additional 759 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in MasTec during the 2nd quarter worth about $159,000. Hedge funds and other institutional investors own 85.42% 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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