MasTec (NYSE:MTZ) Stock Rating Lowered by TheStreet

TheStreet downgraded shares of MasTec (NYSE:MTZGet Rating) from a b- rating to a c rating in a report released on Monday morning, TheStreetRatingsTable reports.

Other research analysts also recently issued research reports about the stock. B. Riley lowered their price target on shares of MasTec from $120.00 to $104.00 in a report on Friday, May 6th. StockNews.com assumed coverage on shares of MasTec in a research note on Thursday, March 31st. They issued a hold rating for the company. DA Davidson decreased their price objective on shares of MasTec from $120.00 to $105.00 in a research note on Monday, May 9th. Robert W. Baird decreased their price objective on shares of MasTec from $100.00 to $96.00 in a research note on Monday, May 9th. Finally, Barclays decreased their price objective on shares of MasTec from $140.00 to $120.00 and set an overweight rating for the company in a research note on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $105.20.

MTZ opened at $79.97 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.71. MasTec has a 52 week low of $70.72 and a 52 week high of $122.33. The firm has a 50-day simple moving average of $80.59 and a two-hundred day simple moving average of $87.10. The company has a market capitalization of $6.07 billion, a PE ratio of 25.88 and a beta of 1.27.

MasTec (NYSE:MTZGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.17. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that MasTec will post 4.04 earnings per share for the current year.

Several large investors have recently modified their holdings of MTZ. Morgan Stanley increased its position in shares of MasTec by 39.3% during the second quarter. Morgan Stanley now owns 363,864 shares of the construction company’s stock worth $38,607,000 after acquiring an additional 102,619 shares during the period. Principal Financial Group Inc. increased its holdings in MasTec by 0.7% during the third quarter. Principal Financial Group Inc. now owns 197,729 shares of the construction company’s stock valued at $17,060,000 after buying an additional 1,300 shares during the period. CIBC Asset Management Inc increased its holdings in MasTec by 6.2% during the third quarter. CIBC Asset Management Inc now owns 2,785 shares of the construction company’s stock valued at $240,000 after buying an additional 162 shares during the period. Teacher Retirement System of Texas increased its holdings in MasTec by 19.8% during the third quarter. Teacher Retirement System of Texas now owns 9,404 shares of the construction company’s stock valued at $811,000 after buying an additional 1,556 shares during the period. Finally, Citigroup Inc. increased its holdings in MasTec by 27.1% during the third quarter. Citigroup Inc. now owns 53,280 shares of the construction company’s stock valued at $4,597,000 after buying an additional 11,370 shares during the period. 68.44% of the stock is currently owned by institutional investors and hedge funds.

About MasTec (Get Rating)

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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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