MasTec (NYSE:MTZ) Price Target Lowered to $104.00 at Credit Suisse Group

MasTec (NYSE:MTZ – Get Rating) had its price target decreased by investment analysts at Credit Suisse Group from $115.00 to $104.00 in a research note issued to investors on Tuesday, The Fly reports. Credit Suisse Group’s target price indicates a potential upside of 39.22% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird reduced their price target on MasTec from $100.00 to $96.00 in a research report on Monday. Barclays reduced their price target on MasTec from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 28th. Craig Hallum reduced their price target on MasTec from $139.00 to $108.00 in a research report on Monday, February 28th. Cowen reduced their price target on MasTec from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, February 28th. Finally, DA Davidson reduced their price target on MasTec from $120.00 to $105.00 in a research report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Buy” and a consensus price target of $107.73.

Shares of MTZ opened at $74.70 on Tuesday. The firm has a market cap of $5.69 billion, a PE ratio of 24.17 and a beta of 1.27. The stock’s fifty day moving average price is $80.51 and its two-hundred day moving average price is $87.58. 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 has a 1 year low of $70.72 and a 1 year high of $122.33.

MasTec (NYSE:MTZ – Get Rating) last issued its earnings results on Thursday, May 5th. The construction company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.17. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.79 billion. MasTec had a return on equity of 13.17% and a net margin of 2.81%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that MasTec will post 4.98 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MTZ. UMB Bank N A MO purchased a new position in shares of MasTec in the 4th quarter worth about $30,000. Covestor Ltd purchased a new position in shares of MasTec in the 4th quarter worth about $33,000. First Horizon Advisors Inc. boosted its holdings in shares of MasTec by 84.4% in the 4th quarter. First Horizon Advisors Inc. now owns 426 shares of the construction company’s stock worth $39,000 after purchasing an additional 195 shares in the last quarter. CWM LLC purchased a new position in shares of MasTec in the 4th quarter worth about $55,000. Finally, Prospera Financial Services Inc purchased a new position in shares of MasTec in the 1st quarter worth about $56,000. Institutional investors and hedge funds 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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