Analysts Issue Forecasts for MasTec, Inc.’s Q2 2024 Earnings (NYSE:MTZ)

MasTec, Inc. (NYSE:MTZ) – Analysts at B. Riley boosted their Q2 2024 EPS estimates for shares of MasTec in a research report issued on Monday, May 6th. B. Riley analyst A. Rygiel now expects that the construction company will post earnings of $0.79 per share for the quarter, up from their prior forecast of $0.70. B. Riley currently has a “Buy” rating and a $120.00 target price on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.33 per share. B. Riley also issued estimates for MasTec’s Q3 2024 earnings at $1.14 EPS, Q4 2024 earnings at $0.88 EPS and FY2025 earnings at $3.64 EPS.

Several other research firms have also recently commented on MTZ. KeyCorp upped their price target on MasTec from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup raised their target price on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. UBS Group boosted their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial reissued a “hold” rating and set a $109.00 price target (up from $96.00) on shares of MasTec in a report on Monday. Finally, TD Cowen lifted their price objective on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.08.

MasTec Stock Down 0.5 %

MasTec stock opened at $105.17 on Thursday. The stock has a 50 day moving average of $89.87 and a two-hundred day moving average of $73.92. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of -751.21 and a beta of 1.61. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%.

Institutional Trading of MasTec

Institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of MasTec in the fourth quarter valued at $37,000. Headlands Technologies LLC purchased a new stake in shares of MasTec in the 3rd quarter worth about $41,000. Itau Unibanco Holding S.A. purchased a new position in MasTec during the 3rd quarter valued at about $43,000. CWM LLC increased its holdings in MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after acquiring an additional 312 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after acquiring an additional 212 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.