Barclays Begins Coverage on MasTec (MTZ)
Barclays started coverage on shares of MasTec (NYSE:MTZ) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $54.00 price objective on the construction company’s stock.
A number of other equities analysts also recently commented on MTZ. Canaccord Genuity reiterated a buy rating and set a $55.00 target price on shares of MasTec in a research note on Tuesday, August 15th. Stifel Nicolaus reiterated a buy rating and set a $55.50 target price on shares of MasTec in a research note on Saturday, August 19th. KeyCorp reiterated a buy rating and set a $51.00 target price on shares of MasTec in a research note on Tuesday, September 19th. B. Riley reiterated a buy rating and set a $67.00 target price (up previously from $66.00) on shares of MasTec in a research note on Tuesday, November 7th. Finally, ValuEngine downgraded shares of MasTec from a buy rating to a hold rating in a research note on Tuesday, November 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $55.05.
Shares of MasTec (NYSE:MTZ) traded up $0.85 during mid-day trading on Tuesday, hitting $46.20. 1,187,631 shares of the company were exchanged, compared to its average volume of 1,038,000. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $3,753.19, a P/E ratio of 15.07, a P/E/G ratio of 1.22 and a beta of 1.53. MasTec has a 12-month low of $34.33 and a 12-month high of $49.50.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. equities analysts expect that MasTec will post 2.65 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its position in MasTec by 12.2% in the third quarter. Parametric Portfolio Associates LLC now owns 280,294 shares of the construction company’s stock valued at $13,006,000 after acquiring an additional 30,475 shares during the last quarter. AXA lifted its position in MasTec by 397.1% in the third quarter. AXA now owns 161,522 shares of the construction company’s stock valued at $7,495,000 after acquiring an additional 129,031 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in MasTec by 71.3% in the third quarter. Public Employees Retirement System of Ohio now owns 55,304 shares of the construction company’s stock valued at $2,566,000 after acquiring an additional 23,013 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in MasTec in the third quarter valued at $623,000. Finally, Algert Global LLC raised its holdings in shares of MasTec by 112.0% in the third quarter. Algert Global LLC now owns 14,480 shares of the construction company’s stock valued at $672,000 after buying an additional 7,651 shares during the last quarter. 73.23% of the stock is owned by hedge funds and other institutional investors.
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MasTec Company Profile
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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