MasTec (NYSE:MTZ – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.09-$3.09 for the period, compared to the consensus estimate of $4.38. The company issued revenue guidance of $9.20 billion-$9.20 billion, compared to the consensus revenue estimate of $9.28 billion.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Cowen boosted their price target on shares of MasTec from $110.00 to $120.00 in a research report on Thursday, May 26th. UBS Group reduced their target price on shares of MasTec from $116.00 to $100.00 and set a na rating on the stock in a research report on Wednesday, May 18th. DA Davidson cut their price objective on shares of MasTec from $120.00 to $105.00 in a report on Monday, May 9th. B. Riley cut their price objective on shares of MasTec from $120.00 to $104.00 in a report on Friday, May 6th. Finally, Citigroup cut their price objective on shares of MasTec from $109.00 to $100.00 in a report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $108.73.
MasTec Stock Performance
Shares of MTZ stock opened at $72.52 on Monday. The stock has a market cap of $5.50 billion, a P/E ratio of 23.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.49 and a quick ratio of 1.44. The company has a fifty day moving average price of $76.33 and a two-hundred day moving average price of $81.23. MasTec has a one year low of $67.31 and a one year high of $104.45.
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MasTec (NYSE:MTZ – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.79 billion. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. As a group, equities analysts predict that MasTec will post 3.96 EPS for the current year.
Institutional Trading of MasTec
Several hedge funds and other institutional investors have recently bought and sold shares of MTZ. Raymond James Financial Services Advisors Inc. raised its stake in MasTec by 6.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company’s stock worth $1,331,000 after purchasing an additional 940 shares in the last quarter. Citigroup Inc. increased its holdings in MasTec by 139.8% in the 1st quarter. Citigroup Inc. now owns 48,537 shares of the construction company’s stock valued at $4,228,000 after buying an additional 28,295 shares during the period. PNC Financial Services Group Inc. increased its holdings in MasTec by 121.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock valued at $360,000 after buying an additional 2,260 shares during the period. Bank of Montreal Can increased its holdings in MasTec by 97.1% in the 1st quarter. Bank of Montreal Can now owns 30,573 shares of the construction company’s stock valued at $2,635,000 after buying an additional 15,061 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in MasTec by 37.2% in the 1st quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company’s stock valued at $3,313,000 after buying an additional 10,310 shares during the period. Institutional investors and hedge funds own 68.44% 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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.
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