In yesterday’s Wall Street session, MasTec Inc. (NYSE:MTZ) shares traded at $92.62, down -1.13% from the previous session.
As we calculate the median target price by taking the range between a high of $125.00 and a low of $97.00, we find $110.50. Given the previous closing price of $93.68, this indicates a potential upside of 17.95 percent. MTZ stock price is now 3.59% away from the 50-day moving average and 15.95% away from the 200-day moving average. The market capitalization of the company currently stands at $7.14B.
Brokers who have rated the stock have averaged $111.00 as their price target over the next twelve months.
With the price target reduced from $125 to $120, Cowen maintained Outperform rating for MasTec Inc. (NYSE: MTZ). On February 28, 2022, Cowen reiterated its ‘Outperform’ rating on the stock by increasing its target price from $125 to quote $110, while ‘B. Riley Securities’ rates the stock as ‘Buy’.
Insiders disposed of 51,481 shares of company stock worth roughly $4.77 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MTZ stock. A new stake in MasTec Inc. shares was purchased by ACK ASSET MANAGEMENT LLC during the first quarter worth $30,312,000. GLAZER CAPITAL, LLC invested $10,441,000 in shares of MTZ during the first quarter. In the first quarter, PIER CAPITAL, LLC acquired a new stake in MasTec Inc. valued at approximately $8,653,000. SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in MTZ for approximately $8,058,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC purchased a new stake in MTZ valued at around $6,715,000 in the second quarter. In total, there are 487 active investors with 77.20% ownership of the company’s stock.
On Thursday morning MasTec Inc. (NYSE: MTZ) stock kicked off with the opening price of $92.69. During the past 12 months, MasTec Inc. has had a low of $62.36 and a high of $98.28. As of last week, the company has a debt-to-equity ratio of 0.87, a current ratio of 1.60, and a quick ratio of 1.50. The fifty day moving average price for MTZ is $89.53 and a two-hundred day moving average price translates $79.91 for the stock.
The latest earnings results from MasTec Inc. (NYSE: MTZ) was released for Jun, 2022. According to the Engineering & Construction Company, earnings per share came in at $0.73, beating analysts’ expectations of $0.72 by 0.01. This compares to $1.52 EPS in the same period last year. The net profit margin was 1.20% and return on equity was 4.20% for MTZ. The company reported revenue of $2.51 billion for the quarter, compared to $2.4 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.54 percent. For the current quarter, analysts expect MTZ to generate $2.55B in revenue.
MasTec Inc.(MTZ) 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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments. The company builds underground and overhead distribution systems, including trenches, conduits, cell towers, cable, and power lines, which provide wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy; natural gas, product transport; electrical and gas transmission, and distribution systems; heavy industrial plants; compressor and pump stations, and treatment plants; water and sewer infrastructure, including water pipelines; and other civil construction infrastructure. It also installs electrical and other gas distribution and transmission systems, power generation facilities, buried and aerial fiber optic and other cables, as well as home automation and energy management solutions. In addition, the company offers maintenance and upgrade support services comprising maintenance of customers’ distribution facilities, networks, and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission, and heavy civil infrastructure; service restoration for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include public and private energy providers, pipeline operators, wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, and government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.