According to a report by Bloomberg.com, MasTec, Inc. (NYSE: MTZ) has received an average recommendation of “Moderate Buy” from ten analysts who cover the company. One research analyst has given the stock a hold rating, while nine others have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $118.91.
On October 2, 2023, shares of NYSE MTZ opened at $71.97. The company has a quick ratio of 1.51, a current ratio of 1.57, and a debt-to-equity ratio of 1.17. MasTec’s twelve-month low is $62.36 and its twelve-month high is $123.33. The firm currently has a market capitalization of $5.68 billion with a P/E ratio of -449.81 and a beta of 1.43. Its 50-day moving average stands at $95.19 and its 200-day moving average at $98.28.
MasTec, Inc., an infrastructure construction company, operates primarily in the United States and Canada providing engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure projects. The company functions through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.
In its latest financial report released on August 3rd , MasTec reported earnings per share (EPS) of $0.81 for the quarter which exceeded the consensus estimate by $0.06; it had been expected to be at $0.75 EPS according to analysts’ predictions . Despite having a negative net margin of 0.
12%, MasTec showed positive returns on equity with figures standing at
6.
93%.
The reported revenue for the quarter was $2.87 billion, slightly lower than the consensus estimate of $3.01 billion.
Analysts in the industry expect that MasTec will post an EPS of 3.58 for the current fiscal year.
With positive recommendations from analysts and its presence across multiple sectors within the infrastructure construction industry, MasTec is positioned to continue its growth in the coming months, contributing to a potential increase in shareholder value.
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Research Reports and Institutional Interest: An Overview of MasTec’s Performance and Potential
MasTec, the leading construction company, has recently been the focus of several research reports. These reports have shed light on the company’s target price and ratings from various analysts. One such report came from TD Cowen, which lowered their target price on MasTec shares from $130.00 to $120.00. Despite the decrease, they maintained an “outperform” rating for the company.
In another research report, Craig Hallum downgraded MasTec’s rating from “buy” to “hold” and also lowered their price target for the stock from $113.00 to $98.00. This change may have been influenced by market trends or other factors that affected their assessment of the company’s performance.
However, there are analysts who have taken a more optimistic stance on MasTec. StockNews.com upgraded their rating for the construction company from “sell” to “hold,” indicating a potential improvement in its performance. Similarly, DA Davidson raised their target price on MasTec shares from $110.00 to $120.00, affirming a “buy” rating for the company.
On the other hand, Barclays reduced their target price on MasTec shares from $135.00 to $120.00 while maintaining an “overweight” rating for the stock. This adjustment could be due to changing market dynamics or discrepancies between analysts’ expectations and actual performance.
Apart from these research reports, there have also been noteworthy changes in positions among hedge funds and institutional investors regarding MasTec stock. O Shaughnessy Asset Management LLC significantly increased its holdings in MasTec by 61.3% during the first quarter of this year.
Similarly, SG Americas Securities LLC raised its holdings in MasTec by 41.circularized7% during the second quarter, indicating growing interest in the construction company’s stocks among institutional investors.
Candriam S.C.A., another institutional investor, witnessed a 0.9% increase in its holdings of MasTec shares during the first quarter. Pallas Capital Advisors LLC also experienced an increase of 3.6% in its holdings of the construction company’s stock during the same period.
Furthermore, Wiley BROS. Aintree Capital LLC made a significant investment in MasTec during the second quarter, acquiring a new position valued at approximately $206,000.
Considering these changes among institutional investors, it is evident that there is considerable interest in MasTec within the investment community. This could be attributed to expectations of future growth and positive prospects for the construction industry as a whole.
In conclusion, with varying target prices and ratings from different research reports, it is important for investors to carefully analyze all available information before making any investment decisions regarding MasTec. The changes in positions among hedge funds and institutional investors also demonstrate the growing interest in the company’s stocks. However, as with any investment, thorough research and analysis are crucial to make informed choices and mitigate risks effectively.
