Recent Analysts’ Ratings Changes for MasTec (MTZ)
A number of firms have modified their ratings and price targets on shares of MasTec (NYSE: MTZ) recently:
- 8/23/2017 – MasTec was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 8/19/2017 – MasTec had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $55.50 price target on the stock.
- 8/18/2017 – MasTec was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $49.00 price target on the stock.
- 8/15/2017 – MasTec had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $55.00 price target on the stock.
- 8/11/2017 – MasTec was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 8/8/2017 – MasTec was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “MasTec reported record revenues and earnings in the second quarter with both outpacing the Zacks Consensus Estimate as well. The better-than-expected performance can be attributed to record levels of Oil & Gas project activity. MasTec raised 2017 guidance and estimates annual revenue of approximately $6 billion and adjusted earnings per share at $2.73. The company’s recent geographic expansion of heavy civil operations, as well as entry into the water, sewer and drainage systems infrastructure market operations will provide opportunity to capitalize on the increasing demand trends in this market. In its wireline and wireless communication markets, significant expansion related to both 5G and fiber deployment will benefit its communications business. MasTec outperformed the industry in the past one year.”
- 8/7/2017 – MasTec had its price target raised by analysts at FBR & Co from $57.00 to $66.00. They now have an “outperform” rating on the stock.
- 8/4/2017 – MasTec was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
- 7/24/2017 – MasTec was upgraded by analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating. They now have a $55.00 price target on the stock, up previously from $46.00.
MasTec, Inc. (NYSE:MTZ) traded up 0.37% during trading on Thursday, reaching $40.20. The company had a trading volume of 83,996 shares. The firm’s 50 day moving average is $43.62 and its 200-day moving average is $42.24. The company has a market capitalization of $3.25 billion, a P/E ratio of 14.17 and a beta of 1.44. MasTec, Inc. has a 12 month low of $26.75 and a 12 month high of $49.50.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. The firm 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%. The business’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. On average, equities analysts expect that MasTec, Inc. will post $2.74 earnings per share for the current year.
In other MasTec news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the sale, the director now directly owns 67,082 shares in the company, valued at $3,018,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $45.56, for a total transaction of $108,933.96. Following the sale, the director now owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is owned by corporate insiders.
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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