MasTec (NYSE:MTZ) Given New $104.00 Price Target at B. Riley

MasTec (NYSE:MTZ – Get Rating) had its price target lowered by equities researchers at B. Riley from $120.00 to $104.00 in a report released on Friday, The Fly reports. B. Riley’s target price would suggest a potential upside of 39.71% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on MTZ. Credit Suisse Group dropped their price target on shares of MasTec from $130.00 to $114.00 and set an “outperform” rating for the company in a research report on Monday, February 28th. Cowen dropped their price objective on shares of MasTec from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Zacks Investment Research cut shares of MasTec from a “hold” rating to a “sell” rating and set a $76.00 price objective for the company. in a report on Monday. Craig Hallum dropped their price objective on shares of MasTec from $139.00 to $108.00 in a report on Monday, February 28th. Finally, StockNews.com began coverage on shares of MasTec in a report on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $114.10.

Shares of MTZ opened at $74.44 on Friday. MasTec has a 1-year low of $70.72 and a 1-year high of $122.33. The stock has a market cap of $5.67 billion, a PE ratio of 16.73 and a beta of 1.27. The firm has a 50-day simple moving average of $80.58 and a two-hundred day simple moving average of $87.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.61 and a quick ratio of 1.56.

MasTec (NYSE:MTZ – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.17. MasTec had a net margin of 4.14% and a return on equity of 17.24%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the business earned $1.04 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that MasTec will post 4.98 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank N A MO acquired a new position in MasTec during the 4th quarter worth approximately $30,000. Covestor Ltd purchased a new stake in shares of MasTec during the 4th quarter worth approximately $33,000. First Horizon Advisors Inc. lifted its position in shares of MasTec by 84.4% during the 4th quarter. First Horizon Advisors Inc. now owns 426 shares of the construction company’s stock worth $39,000 after buying an additional 195 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of MasTec during the 1st quarter worth approximately $41,000. Finally, CWM LLC purchased a new stake in shares of MasTec during the 4th quarter worth approximately $55,000. Institutional investors own 68.44% of the company’s stock.

MasTec Company Profile (Get Rating)

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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