MasTec, Inc. (NYSE:MTZ) Forecasted to Post Q2 2024 Earnings of $0.79 Per Share

MasTec, Inc. (NYSE:MTZ) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of MasTec in a note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $0.79 for the quarter. DA Davidson currently has a “Buy” rating and a $120.00 target price on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.33 per share. DA Davidson also issued estimates for MasTec’s FY2024 earnings at $2.59 EPS and FY2025 earnings at $4.21 EPS.

A number of other research firms have also weighed in on MTZ. Stifel Nicolaus boosted their target price on shares of MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley boosted their price objective on MasTec from $104.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp lifted their price target on MasTec from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group increased their price objective on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Citigroup boosted their target price on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average target price of $111.08.

MasTec Stock Down 0.5 %

MTZ opened at $105.17 on Wednesday. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The business has a 50 day moving average price of $89.87 and a 200 day moving average price of $73.92. The firm has a market cap of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DMC Group LLC raised its position in MasTec by 5.5% in the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after purchasing an additional 147 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of MasTec by 4.8% during the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after buying an additional 150 shares during the period. New York State Teachers Retirement System boosted its stake in MasTec by 0.8% in the 1st quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after buying an additional 200 shares in the last quarter. Quadrant Capital Group LLC grew its position in MasTec by 30.9% in the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares during the period. Finally, Bridge City Capital LLC raised its stake in MasTec by 0.8% during the first quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock worth $3,078,000 after acquiring an additional 249 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.