MasTec (NYSE:MTZ) Rating Lowered to C at TheStreet

MasTec (NYSE:MTZGet Rating) was downgraded by TheStreet from a “b-” rating to a “c” rating in a research note issued on Monday, TheStreetRatingsTable reports.

MTZ has been the topic of several other research reports. B. Riley dropped their price target on MasTec from $120.00 to $104.00 in a report on Friday, May 6th. Credit Suisse Group reduced their target price on MasTec from $115.00 to $104.00 in a report on Tuesday, May 10th. Cowen dropped their price target on MasTec from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th. StockNews.com started coverage on shares of MasTec in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Barclays dropped their target price on shares of MasTec from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.20.

Shares of MTZ stock opened at $79.97 on Monday. The stock has a 50-day simple moving average of $80.59 and a 200 day simple moving average of $87.10. The stock has a market capitalization of $6.07 billion, a P/E ratio of 25.88 and a beta of 1.27. MasTec has a fifty-two week low of $70.72 and a fifty-two week high of $122.33. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.71.

MasTec (NYSE:MTZGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The construction company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.17. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that MasTec will post 4.04 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. boosted its stake in shares of MasTec by 2.0% during the 1st quarter. Xponance Inc. now owns 6,464 shares of the construction company’s stock valued at $563,000 after buying an additional 127 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of MasTec by 0.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 15,086 shares of the construction company’s stock worth $1,392,000 after acquiring an additional 129 shares in the last quarter. Leuthold Group LLC boosted its position in MasTec by 0.3% during the third quarter. Leuthold Group LLC now owns 48,769 shares of the construction company’s stock valued at $4,208,000 after purchasing an additional 145 shares during the last quarter. Covestor Ltd grew its stake in MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after purchasing an additional 145 shares in the last quarter. Finally, Stephens Inc. AR increased its position in MasTec by 5.7% in the 1st quarter. Stephens Inc. AR now owns 2,954 shares of the construction company’s stock worth $257,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.

About MasTec (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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Analyst Recommendations for MasTec (NYSE:MTZ)

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