MasTec, Inc. Expected to Earn Q2 2024 Earnings of $0.79 Per Share (NYSE:MTZ)

MasTec, Inc. (NYSE:MTZ) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of MasTec in a note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman anticipates that the construction company will earn $0.79 per share for the quarter. DA Davidson has a “Buy” rating and a $120.00 price objective on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.33 per share. DA Davidson also issued estimates for MasTec’s FY2024 earnings at $2.59 EPS and FY2025 earnings at $4.21 EPS.

MTZ has been the topic of several other research reports. B. Riley lifted their price target on shares of MasTec from $104.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Craig Hallum boosted their price target on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research report on Monday. Barclays raised their price objective on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup increased their target price on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, UBS Group lifted their price target on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $111.08.

MasTec Price Performance

MTZ opened at $105.67 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The stock has a market capitalization of $8.40 billion, a PE ratio of -754.79 and a beta of 1.61. The stock’s 50 day moving average price is $89.26 and its 200-day moving average price is $73.70. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%.

Institutional Trading of MasTec

Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its holdings in shares of MasTec by 2.3% during the third quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock valued at $6,245,000 after buying an additional 1,912 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in MasTec by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock valued at $38,704,000 after purchasing an additional 5,059 shares during the last quarter. Strs Ohio increased its holdings in shares of MasTec by 30.1% in the 3rd quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock worth $1,285,000 after purchasing an additional 4,137 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of MasTec by 9.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 415,190 shares of the construction company’s stock worth $29,881,000 after purchasing an additional 35,997 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of MasTec during the third quarter valued at $245,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Company Profile

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