MasTec, Inc. (MTZ) Given New $58.00 Price Target at Credit Suisse Group
MasTec, Inc. (NYSE:MTZ) had its price target raised by Credit Suisse Group from $57.00 to $58.00 in a research note issued to investors on Monday. The firm currently has an outperform rating on the construction company’s stock.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $55.50 target price on shares of MasTec in a report on Saturday, August 19th. Citigroup Inc. upgraded MasTec from a neutral rating to a buy rating and set a $49.00 target price on the stock in a report on Friday, August 18th. Canaccord Genuity reiterated a buy rating and issued a $55.00 target price on shares of MasTec in a report on Tuesday, August 15th. BidaskClub downgraded MasTec from a strong-buy rating to a buy rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded MasTec from a hold rating to a buy rating and set a $50.00 target price on the stock in a report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $55.14.
Shares of MasTec (MTZ) traded down $1.30 on Monday, hitting $43.65. The stock had a trading volume of 1,258,465 shares, compared to its average volume of 1,030,000. The firm has a market cap of $3,660.00, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. MasTec has a one year low of $28.55 and a one year high of $49.50. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. equities analysts predict that MasTec will post 2.57 earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new position in MasTec during the second quarter valued at approximately $102,000. Global X Management Co. LLC grew its holdings in MasTec by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,799 shares during the last quarter. Creative Planning grew its holdings in MasTec by 16.4% during the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after purchasing an additional 379 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in MasTec by 13.1% during the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after purchasing an additional 430 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.
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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