MasTec’s (MTZ) “Outperform” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reissued their outperform rating on shares of MasTec (NYSE:MTZ) in a research report sent to investors on Thursday. They currently have a $69.00 price target on the construction company’s stock, up from their prior price target of $58.00.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of MasTec from a hold rating to a buy rating and set a $56.00 target price for the company in a research report on Wednesday, January 3rd. Robert W. Baird set a $56.00 target price on shares of MasTec and gave the company a buy rating in a research report on Wednesday, January 3rd. Craig Hallum boosted their target price on shares of MasTec from $57.00 to $64.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Barclays assumed coverage on shares of MasTec in a research report on Tuesday, December 12th. They set an overweight rating and a $54.00 target price for the company. Finally, ValuEngine lowered shares of MasTec from a buy rating to a hold rating in a research report on Tuesday, November 14th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $57.40.

Shares of MasTec (NYSE:MTZ) traded up $1.25 during midday trading on Thursday, reaching $53.30. 777,696 shares of the company traded hands, compared to its average volume of 977,283. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66. The company has a market capitalization of $4,410.00, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. MasTec has a 12 month low of $35.45 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. analysts predict 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 company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total value of $1,254,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MTZ. Gotham Asset Management LLC bought a new position in shares of MasTec in the second quarter worth approximately $19,803,000. Koch Industries Inc. purchased a new position in shares of MasTec in the second quarter worth $429,000. Macquarie Group Ltd. lifted its holdings in shares of MasTec by 15.3% in the third 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 in the last quarter. 1060 Capital LLC lifted its holdings in shares of MasTec by 73.0% in the third quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock worth $43,629,000 after buying an additional 396,847 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of MasTec by 112.3% in the third quarter. Point72 Asset Management L.P. now owns 690,800 shares of the construction company’s stock worth $32,053,000 after buying an additional 365,400 shares in the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for MasTec (NYSE:MTZ)

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