MasTec, Inc. (NYSE:MTZ) – Investment analysts at DA Davidson raised their Q2 2017 earnings per share (EPS) estimates for shares of MasTec in a research report issued on Monday. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $0.61 per share for the quarter, up from their previous forecast of $0.53. DA Davidson has a “Buy” rating and a $55.00 price target on the stock. DA Davidson also issued estimates for MasTec’s Q3 2017 earnings at $0.73 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $2.29 EPS and FY2018 earnings at $2.67 EPS.
A number of other research firms have also issued reports on MTZ. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 target price on shares of MasTec in a report on Friday, May 5th. Deutsche Bank AG lifted their target price on MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a report on Monday. FBR & Co reiterated an “outperform” rating and issued a $57.00 target price (up from $50.00) on shares of MasTec in a report on Monday. Zacks Investment Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, TheStreet raised MasTec from a “c+” rating to a “b-” rating in a report on Friday, February 24th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.00.
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Shares of MasTec (NYSE:MTZ) opened at 45.70 on Wednesday. The company’s 50 day moving average price is $41.53 and its 200-day moving average price is $37.97. The stock has a market capitalization of $3.70 billion, a PE ratio of 21.45 and a beta of 1.36. MasTec has a 52 week low of $20.86 and a 52 week high of $47.90.
MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.06 billion. MasTec had a return on equity of 10.76% and a net margin of 0.02%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS.
Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in MasTec by 3.4% in the fourth quarter. State Street Corp now owns 1,199,265 shares of the construction company’s stock valued at $45,875,000 after buying an additional 39,991 shares during the last quarter. Norges Bank purchased a new stake in MasTec during the fourth quarter valued at $26,156,000. FMR LLC purchased a new stake in MasTec during the fourth quarter valued at $20,566,000. Hussman Strategic Advisors Inc. increased its stake in MasTec by 14.3% in the third quarter. Hussman Strategic Advisors Inc. now owns 400,000 shares of the construction company’s stock valued at $11,896,000 after buying an additional 50,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in MasTec during the fourth quarter valued at $1,033,000. 68.50% of the stock is owned by institutional investors and hedge funds.
In other news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $45.06, for a total value of $1,126,500.00. Following the completion of the sale, the chief operating officer now directly owns 227,816 shares of the company’s stock, valued at approximately $10,265,388.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.40% of the stock is currently owned by insiders.
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.
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