MasTec, Inc. (NYSE:MTZ) had its target price increased by investment analysts at FBR & Co to $50.00 in a research report issued to clients and investors on Thursday. FBR & Co’s price target indicates a potential upside of 20.34% from the company’s previous close.
A number of other research firms also recently issued reports on MTZ. Canaccord Genuity reiterated a “buy” rating and set a $42.00 target price on shares of MasTec in a research report on Friday, December 30th. DA Davidson downgraded shares of MasTec from a “buy” rating to a “neutral” rating and boosted their target price for the company from $34.00 to $39.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Citigroup Inc. boosted their target price on shares of MasTec from $32.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday. KeyCorp boosted their target price on shares of MasTec from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. Finally, Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, January 4th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.36.
Shares of MasTec (NYSE:MTZ) traded down 6.98% during mid-day trading on Thursday, reaching $38.65. 1,808,474 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $37.87 and its 200 day moving average price is $31.67. The company has a market cap of $3.11 billion, a PE ratio of 3513.64 and a beta of 1.29. MasTec has a 52-week low of $12.44 and a 52-week high of $41.90.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.50 billion. MasTec had a net margin of 0.02% and a return on equity of 10.76%. The company’s revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. On average, equities research analysts predict that MasTec will post $1.74 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Pillar Pacific Capital Management LLC bought a new position in MasTec during the second quarter valued at $205,000. Wells Fargo & Company MN raised its position in MasTec by 5.4% in the third quarter. Wells Fargo & Company MN now owns 398,444 shares of the company’s stock valued at $11,850,000 after buying an additional 20,485 shares during the last quarter. Hood River Capital Management LLC raised its position in MasTec by 32.6% in the second quarter. Hood River Capital Management LLC now owns 589,613 shares of the company’s stock valued at $13,160,000 after buying an additional 144,963 shares during the last quarter. Oxford Asset Management raised its position in MasTec by 62.3% in the second quarter. Oxford Asset Management now owns 660,531 shares of the company’s stock valued at $14,743,000 after buying an additional 253,523 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in MasTec by 365.4% in the third quarter. Teachers Advisors LLC now owns 492,605 shares of the company’s stock valued at $14,650,000 after buying an additional 386,759 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.