MasTec, Inc. (NYSE:MTZ) Receives Average Rating of “Moderate Buy” from Analysts

MasTec, Inc. (NYSE:MTZ) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $96.46.

A number of research analysts have recently issued reports on MTZ shares. KeyCorp lifted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Robert W. Baird upped their target price on MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Craig Hallum raised MasTec from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $96.00 in a research report on Monday, March 4th. DA Davidson reaffirmed a “buy” rating and set a $70.00 target price on shares of MasTec in a research report on Monday, March 4th. Finally, Barclays upped their target price on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th.

Institutional Trading of MasTec

Several large investors have recently added to or reduced their stakes in MTZ. Raymond James Financial Services Advisors Inc. grew its stake in MasTec by 6.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company’s stock valued at $1,331,000 after purchasing an additional 940 shares during the last quarter. Citigroup Inc. boosted its stake in shares of MasTec by 139.8% in the first quarter. Citigroup Inc. now owns 48,537 shares of the construction company’s stock worth $4,228,000 after buying an additional 28,295 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of MasTec by 121.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock worth $360,000 after buying an additional 2,260 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of MasTec by 97.1% in the first quarter. Bank of Montreal Can now owns 30,573 shares of the construction company’s stock worth $2,635,000 after buying an additional 15,061 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of MasTec by 37.2% in the first quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company’s stock worth $3,313,000 after buying an additional 10,310 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 0.7 %

Shares of NYSE:MTZ opened at $83.40 on Friday. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33. The business’s fifty day simple moving average is $84.19 and its 200-day simple moving average is $71.39. The company has a market capitalization of $6.63 billion, a PE ratio of -126.36 and a beta of 1.62. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. As a group, equities research analysts predict that MasTec will post 2.33 earnings per share for the current fiscal year.

About MasTec

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 five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.