MasTec Given Average Rating of “Buy” by Analysts (NYSE:MTZ)
Shares of MasTec (NYSE:MTZ) have received an average rating of “Buy” from the eleven brokerages that are currently covering the stock, Analyst Ratings News reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $41.63.
MasTec (NYSE:MTZ) opened at 30.31 on Friday. MasTec has a 1-year low of $27.96 and a 1-year high of $44.80. The stock has a 50-day moving average of $31.30 and a 200-day moving average of $37.05. The company has a market cap of $2.351 billion and a P/E ratio of 18.52. MasTec also was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 6,671,651 shares, a decrease of 31.9% from the June 13th total of 9,794,813 shares. Based on an average trading volume of 2,106,326 shares, the short-interest ratio is currently 3.2 days. Approximately 10.8% of the shares of the company are short sold.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $964.00 million for the quarter, compared to the consensus estimate of $920.95 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that MasTec will post $1.93 earnings per share for the current fiscal year.
MTZ has been the subject of a number of recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of MasTec in a research note on Monday. They now have a $39.00 price target on the stock, down previously from $40.00. Separately, analysts at Zacks downgraded shares of MasTec from an “outperform” rating to an “underperform” rating in a research note on Friday, July 11th. They now have a $27.00 price target on the stock. Finally, analysts at Wunderlich reiterated a “buy” rating on shares of MasTec in a research note on Friday, June 27th. They now have a $50.00 price target on the stock.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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