MasTec, Inc. (NYSE:MTZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MasTec, Inc. (NYSE:MTZ) has received an average recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $117.50.

A number of research analysts recently weighed in on the stock. B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus upped their price objective on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Citigroup upped their price target on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th.

Institutional Investors Weigh In On MasTec

Large investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new position in MasTec during the second quarter worth $27,000. Quarry LP purchased a new position in shares of MasTec in the 4th quarter valued at about $37,000. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the second quarter valued at about $40,000. Finally, Bessemer Group Inc. grew its position in MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 1.7 %

Shares of MTZ stock opened at $112.28 on Monday. The company has a 50-day moving average of $107.06 and a two-hundred day moving average of $101.17. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec has a 1-year low of $44.65 and a 1-year high of $113.69. The firm has a market cap of $8.89 billion, a PE ratio of -802.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that MasTec will post 2.71 EPS for the current year.

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.