ValuEngine Upgrades MasTec (MTZ) to “Hold”

ValuEngine upgraded shares of MasTec (NYSE:MTZ) from a sell rating to a hold rating in a report issued on Thursday.

MTZ has been the topic of a number of other reports. Citigroup set a $70.00 price target on MasTec and gave the company a buy rating in a research note on Monday, November 5th. Robert W. Baird raised their price target on MasTec from $51.00 to $52.00 and gave the company a buy rating in a research note on Friday, November 2nd. Zacks Investment Research raised MasTec from a hold rating to a buy rating and set a $46.00 price objective on the stock in a report on Friday, January 4th. Finally, Canaccord Genuity dropped their price objective on MasTec from $65.00 to $62.00 and set a buy rating on the stock in a report on Monday, November 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $60.70.

MasTec stock opened at $45.37 on Thursday. MasTec has a 1-year low of $37.24 and a 1-year high of $55.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.85 and a current ratio of 1.94. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. MasTec had a return on equity of 17.01% and a net margin of 5.89%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $0.82 earnings per share. MasTec’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that MasTec will post 3.64 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its holdings in shares of MasTec by 79.0% during the second quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after purchasing an additional 1,225 shares during the last quarter. Profit Investment Management LLC grew its holdings in shares of MasTec by 2.6% during the third quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock worth $161,000 after purchasing an additional 1,304 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new position in shares of MasTec during the third quarter worth about $211,000. UBP Investment Advisors SA purchased a new position in shares of MasTec during the third quarter worth about $223,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of MasTec by 66.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,700 shares of the construction company’s stock worth $239,000 after purchasing an additional 1,880 shares during the last quarter. 84.90% of the stock is currently owned by institutional investors.

MasTec Company Profile

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

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MasTec (NYSE:MTZ)

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