What is B. Riley’s Forecast for MasTec FY2024 Earnings?

MasTec, Inc. (NYSE:MTZ) – Equities research analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of MasTec in a note issued to investors on Tuesday, November 5th. B. Riley analyst A. Rygiel now expects that the construction company will earn $3.44 per share for the year, up from their previous forecast of $2.72. B. Riley has a “Buy” rating and a $166.00 price objective on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.69 per share. B. Riley also issued estimates for MasTec’s Q4 2024 earnings at $1.20 EPS and FY2025 earnings at $4.17 EPS.

A number of other equities analysts have also recently issued reports on MTZ. Stifel Nicolaus increased their target price on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. DA Davidson upped their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Craig Hallum increased their price objective on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Performance

MTZ opened at $144.85 on Friday. The stock has a market cap of $11.48 billion, a PE ratio of 129.33 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $122.03 and its 200-day simple moving average is $111.59. MasTec has a 1 year low of $47.02 and a 1 year high of $145.74.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

A number of large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in shares of MasTec by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after purchasing an additional 82 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares during the last quarter. UMB Bank n.a. increased its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.