B. Riley Equities Analysts Raise Earnings Estimates for MasTec, Inc. (NYSE:MTZ)

MasTec, Inc. (NYSE:MTZ) – Equities research analysts at B. Riley lifted their Q2 2024 earnings per share (EPS) estimates for shares of MasTec in a research report issued on Monday, May 6th. B. Riley analyst A. Rygiel now expects that the construction company will earn $0.79 per share for the quarter, up from their prior estimate of $0.70. B. Riley currently has a “Buy” rating and a $120.00 target price on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.33 per share. B. Riley also issued estimates for MasTec’s Q3 2024 earnings at $1.14 EPS, Q4 2024 earnings at $0.88 EPS and FY2025 earnings at $3.64 EPS.

Several other analysts also recently weighed in on the stock. DA Davidson boosted their target price on shares of MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group raised their target price on MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial reiterated a “hold” rating and set a $109.00 price target (up previously from $96.00) on shares of MasTec in a research note on Monday. Citigroup raised their price objective on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Barclays upped their target price on MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Trading Down 0.5 %

Shares of NYSE:MTZ opened at $105.17 on Thursday. MasTec has a 1 year low of $44.65 and a 1 year high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market capitalization of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61. The business’s 50-day moving average is $89.87 and its 200 day moving average is $73.92.

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

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of MasTec in the fourth quarter worth about $37,000. Headlands Technologies LLC purchased a new position in MasTec during the third quarter worth approximately $41,000. Itau Unibanco Holding S.A. purchased a new stake in shares of MasTec in the third quarter valued at approximately $43,000. CWM LLC increased its position in shares of MasTec by 59.4% in the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after buying an additional 312 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.