MasTec PT Lowered to $42.00 (MTZ)
Equities researchers at Wunderlich dropped their target price on shares of MasTec (NYSE:MTZ) from $50.00 to $42.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Wunderlich’s target price would indicate a potential upside of 45.78% from the company’s current price.
MasTec (NYSE:MTZ) traded down 2.88% during mid-day trading on Wednesday, hitting $27.98. 1,976,407 shares of the company’s stock traded hands. MasTec has a 52 week low of $26.38 and a 52 week 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 price-to-earnings ratio of 18.26.
MasTec (NYSE:MTZ) last announced its earnings results on Monday, August 11th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that MasTec will post $1.71 EPS for the current fiscal year.
A number of other firms have also recently commented on MTZ. Analysts at Barclays reiterated an “overweight” rating on shares of MasTec in a research note on Monday, July 21st. They now have a $39.00 price target on the stock, down previously from $40.00. Finally, analysts at DA Davidson cut their price target on shares of MasTec from $45.00 to $34.00 in a research note on Tuesday, June 3rd. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.38.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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