MasTec (MTZ) Stock Rating Reaffirmed by Credit Suisse Group

MasTec (NYSE:MTZ)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a report issued on Thursday, The Fly reports. They currently have a $69.00 target price on the construction company’s stock, up from their previous target price of $58.00. Credit Suisse Group’s price target would suggest a potential upside of 29.46% from the stock’s previous close.

Several other brokerages also recently weighed in on MTZ. Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the company from $51.00 to $53.00 in a research note on Monday, November 6th. Craig Hallum upped their target price on shares of MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research downgraded shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 9th. ValuEngine downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Barclays initiated coverage on shares of MasTec in a research note on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $57.40.

Shares of MasTec (NYSE MTZ) traded up $1.25 during mid-day trading on Thursday, hitting $53.30. 773,143 shares of the stock traded hands, compared to its average volume of 608,072. The stock has a market capitalization of $4,411.16, a P/E ratio of 18.25, a PEG ratio of 1.22 and a beta of 1.54. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. MasTec has a fifty-two week low of $35.45 and a fifty-two week high of $53.40.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.09. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. research analysts forecast that MasTec will post 2.65 EPS for the current fiscal year.

In other MasTec news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total transaction of $1,254,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of MasTec by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock worth $325,963,000 after buying an additional 335,076 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of MasTec by 15.3% in the 3rd quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock worth $141,374,000 after buying an additional 404,076 shares during the last quarter. State Street Corp lifted its position in shares of MasTec by 6.8% in the 2nd quarter. State Street Corp now owns 1,319,541 shares of the construction company’s stock worth $59,578,000 after buying an additional 84,002 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of MasTec by 3.9% in the 2nd quarter. Hood River Capital Management LLC now owns 1,099,113 shares of the construction company’s stock worth $49,625,000 after buying an additional 40,885 shares during the last quarter. Finally, Rothschild Asset Management Inc. lifted its position in shares of MasTec by 18.5% in the 3rd quarter. Rothschild Asset Management Inc. now owns 943,843 shares of the construction company’s stock worth $43,794,000 after buying an additional 147,017 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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MasTec Company Profile

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

The Fly

Analyst Recommendations for MasTec (NYSE:MTZ)

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