MasTec Stock Price Down 2.7% on Analyst Downgrade (MTZ)
Shares of MasTec (NYSE:MTZ) were down 2.7% on Wednesday after Wunderlich lowered their price target on the stock from $50.00 to $42.00, ARN reports. Wunderlich currently has a buy rating on the stock. MasTec traded as low as $27.66 and last traded at $28.03, with a volume of 1,099,501 shares traded. The stock had previously closed at $28.81.
A number of other analysts have also recently weighed in 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.86.
The stock’s 50-day moving average is $29.17 and its 200-day moving average is $36.30. The company has a market cap of $2.198 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 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.47 earnings per share. MasTec’s revenue was up 13.0% compared to the same quarter last year. Analysts expect that MasTec will post $1.71 EPS for the current fiscal year.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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