MasTec Inc. (NYSE:MTZ) has been given an average recommendation of “Buy” by the fourteen analysts that are covering the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$27.80.
Several research analysts recently commented on MTZ shares. Canaccord Genuity set a $33.00 target price on MasTec and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Citigroup Inc. raised their target price on MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Maxim Group raised their target price on MasTec from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. FBR & Co lifted their price objective on MasTec from $25.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Finally, Zacks Investment Research raised MasTec from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Wednesday, July 27th.
MasTec (NYSE:MTZ) traded down 0.086% during trading on Monday, hitting $29.125. 110,444 shares of the stock traded hands. The firm’s 50-day moving average is $29.02 and its 200 day moving average is $25.03. MasTec has a 52 week low of $12.44 and a 52 week high of $31.15. The stock’s market cap is $2.34 billion.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.22 by $0.14. The firm earned $1.23 billion during the quarter, compared to analysts’ expectations of $1.16 billion. MasTec had a positive return on equity of 6.18% and a negative net margin of 1.10%. MasTec’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Equities research analysts forecast that MasTec will post $1.58 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. Cortina Asset Management LLC purchased a new stake in shares of MasTec during the second quarter worth approximately $18,578,000. Dimensional Fund Advisors LP raised its stake in shares of MasTec by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,727,940 shares of the company’s stock worth $127,846,000 after buying an additional 542,990 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of MasTec by 363.2% in the second quarter. JPMorgan Chase & Co. now owns 607,636 shares of the company’s stock worth $13,563,000 after buying an additional 476,454 shares during the last quarter. Friess Associates LLC purchased a new stake in shares of MasTec during the second quarter worth approximately $8,158,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of MasTec during the second quarter worth approximately $7,812,000. Hedge funds and other institutional investors own 72.38% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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