Analysts Set MasTec, Inc. (NYSE:MTZ) PT at $66.08

MasTec, Inc. (NYSE:MTZ) has earned a consensus rating of “Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $66.08.

MTZ has been the topic of a number of research analyst reports. Canaccord Genuity lifted their price target on shares of MasTec from $62.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 5th. Credit Suisse Group lifted their price target on shares of MasTec from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Deutsche Bank lifted their price target on shares of MasTec from $60.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 5th. ValuEngine lowered shares of MasTec from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Barclays lifted their price target on shares of MasTec from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th.

MTZ stock traded down $0.21 during midday trading on Friday, hitting $67.35. The stock had a trading volume of 14,589 shares, compared to its average volume of 702,833. The firm has a market cap of $5.09 billion, a PE ratio of 18.46 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.53 and a quick ratio of 1.44. MasTec has a 12-month low of $37.24 and a 12-month high of $67.98. The company’s 50-day moving average price is $64.13 and its 200 day moving average price is $54.79.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.51. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.43%. MasTec’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. As a group, sell-side analysts anticipate that MasTec will post 4.9 EPS for the current year.

In related news, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $60.05, for a total transaction of $1,501,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 5,000 shares of MasTec stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.72, for a total transaction of $288,600.00. Following the transaction, the director now owns 67,001 shares in the company, valued at approximately $3,867,297.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,000 shares of company stock worth $1,983,440. 22.00% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Calamos Advisors LLC acquired a new position in shares of MasTec during the 2nd quarter valued at $5,236,000. GAM Holding AG acquired a new position in shares of MasTec during the 2nd quarter valued at $968,000. Renaissance Technologies LLC acquired a new position in shares of MasTec during the 2nd quarter valued at $6,694,000. Parametric Portfolio Associates LLC lifted its holdings in shares of MasTec by 7.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 177,436 shares of the construction company’s stock valued at $9,143,000 after acquiring an additional 12,513 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in shares of MasTec by 170.1% during the 2nd quarter. Alberta Investment Management Corp now owns 121,800 shares of the construction company’s stock valued at $6,276,000 after acquiring an additional 76,700 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

MasTec Company Profile

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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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