MasTec Upgraded to “Neutral” by Zacks (MTZ)
MasTec (NYSE:MTZ) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Monday, American Banking and Market News reports. The firm currently has a $33.40 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 2.49% from the stock’s previous close.
Shares of MasTec (NYSE:MTZ) traded down 0.49% on Monday, hitting $32.43. 316,612 shares of the company’s stock traded hands. MasTec has a 52 week low of $25.27 and a 52 week high of $35.31. The stock’s 50-day moving average is $31.44 and its 200-day moving average is $32.23. The company has a market cap of $2.505 billion and a P/E ratio of 20.17.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts expect that MasTec will post $1.88 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens initiated coverage on shares of MasTec in a research note to investors on Thursday, December 19th. They set an “equal weight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of MasTec in a research note to investors on Tuesday, December 10th. They now have a $39.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of MasTec in a research note to investors on Friday, November 1st. They now have a $39.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.44.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.