MasTec Given Underperform Rating at Zacks (MTZ)
MasTec (NYSE:MTZ)‘s stock had its “underperform” rating reiterated by Zacks in a report released on Wednesday. They currently have a $26.00 target price on the stock. Zacks‘s target price suggests a potential downside of 9.75% from the company’s current price.
Zacks’ analyst wrote, “MasTec’s second-quarter 2014 adjusted earnings per share decreased 18% to $0.45 due to slowdown in revenue growth of wireless projects. For the third quarter, MasTec expects revenue of approximately $1.30-$1.35 billion and adjusted earnings per share of $0.56. For 2014, MasTec expects revenue of $4.4 to $4.5 billion and adjusted earnings within $1.55 to $1.58 per share. MasTec’s guidance reflects reduced levels of expected wireless project revenue in the second half of 2014, compared with the prior year. The company however anticipates returning to a more normalized level of wireless project revenue in 2015. We have maintained our Underperform recommendation on MasTec with a target price of $26.”
MasTec (NYSE:MTZ) traded down 2.88% during mid-day trading on Wednesday, hitting $27.98. The stock had a trading volume of 1,976,407 shares. MasTec has a one year low of $26.38 and a one year high of $44.80. The stock has a 50-day moving average of $29.17 and a 200-day moving average of $36.30. The company has a market cap of $2.190 billion and a P/E ratio of 18.26.
MasTec (NYSE:MTZ) last released its earnings data on Monday, August 11th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.40. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that MasTec will post $1.71 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets cut their price target on shares of MasTec from $44.00 to $39.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of MasTec in a research note on Wednesday. They now have a $38.00 price target on the stock, down previously from $44.00. Finally, analysts at Wunderlich cut their price target on shares of MasTec from $50.00 to $42.00 in a research note on Wednesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus target price of $38.38.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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