MasTec, Inc. (NYSE:MTZ)‘s stock had its “buy” rating restated by KeyCorp in a report issued on Tuesday. They presently have a $51.00 target price on the construction company’s stock. KeyCorp’s target price would indicate a potential upside of 14.35% from the stock’s previous close.
A number of other research analysts also recently weighed in on MTZ. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $55.50 price target on shares of MasTec in a report on Saturday, August 19th. Canaccord Genuity restated a “buy” rating and set a $55.00 price target on shares of MasTec in a report on Tuesday, August 15th. FBR & Co raised their price target on shares of MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. MasTec presently has a consensus rating of “Buy” and a consensus target price of $53.36.
Shares of MasTec (NYSE:MTZ) traded up 2.02% during mid-day trading on Tuesday, reaching $45.50. 301,240 shares of the company were exchanged. MasTec has a 12 month low of $27.10 and a 12 month high of $49.50. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 16.04 and a beta of 1.44. The firm’s 50-day moving average is $41.66 and its 200-day moving average is $42.59.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. MasTec’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. On average, equities analysts forecast that MasTec will post $2.74 earnings per share for the current fiscal year.
In related news, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the transaction, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gs Investments Inc. acquired a new stake in MasTec in the 2nd quarter worth $1,323,000. Advisory Services Network LLC grew its position in MasTec by 13.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after purchasing an additional 430 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in MasTec in the 2nd quarter worth $894,000. Koch Industries Inc. acquired a new stake in MasTec in the 2nd quarter worth $429,000. Finally, 1st Global Advisors Inc. acquired a new stake in MasTec in the 2nd quarter worth $471,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
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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