MasTec, Inc. (NYSE:MTZ) Forecasted to Earn Q2 2024 Earnings of $0.79 Per Share

MasTec, Inc. (NYSE:MTZ) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of MasTec in a note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman forecasts that the construction company will earn $0.79 per share for the quarter. DA Davidson 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. DA Davidson also issued estimates for MasTec’s FY2024 earnings at $2.59 EPS and FY2025 earnings at $4.21 EPS.

Several other equities research analysts also recently issued reports on the company. KeyCorp boosted their price objective on MasTec from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday. UBS Group increased their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird raised their price target on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday. Craig Hallum upped their price objective on MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday. Finally, TD Cowen boosted their target price on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $111.08.

MasTec Stock Down 0.5 %

Shares of NYSE MTZ opened at $105.17 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $89.87 and its two-hundred day moving average is $73.92. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -751.21 and a beta of 1.61.

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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of MasTec by 4.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 230,000 shares of the construction company’s stock valued at $21,448,000 after purchasing an additional 10,000 shares during the last quarter. Motley Fool Asset Management LLC purchased a new stake in MasTec during the 1st quarter valued at approximately $451,000. Russell Investments Group Ltd. lifted its position in MasTec by 139.0% during the 1st quarter. Russell Investments Group Ltd. now owns 60,406 shares of the construction company’s stock worth $5,633,000 after acquiring an additional 35,130 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MasTec during the first quarter worth $785,000. Finally, Hyman Charles D purchased a new position in MasTec in the 1st quarter valued at $210,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.