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A number of firms have modified their ratings and price targets on shares of MasTec (NYSE: MTZ) recently:

  • MasTec had its price target lowered by analysts at Wunderlich from $50.00 to $42.00. They now have a “buy” rating on the stock.
  • MasTec had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $38.00 price target on the stock, down previously from $44.00.
  • MasTec had its “underperform” rating reaffirmed by analysts at Zacks. They now have a $26.00 price target on the stock. 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 had its price target lowered by analysts at FBR Capital Markets from $44.00 to $39.00. They now have an “outperform” rating on the stock.

Shares of MasTec, Inc. (NYSE:MTZ) opened at 29.14 on Wednesday. MasTec, Inc. has a 1-year low of $26.38 and a 1-year high of $44.80. The stock’s 50-day moving average is $29.05 and its 200-day moving average is $36.05. The company has a market cap of $2.384 billion and a P/E ratio of 18.44.

MasTec (NYSE:MTZ) last announced its earnings results 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, Inc. will post $1.56 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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