MasTec, Inc. (MTZ) Rating Lowered to Hold at Zacks Investment Research

MasTec, Inc. (NYSE:MTZ) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “MasTec currently estimates 2017 annual revenue of approximately $6.0 billion, a year-over-year improvement of 5%. Annual adjusted EBITDA is now projected to increase 30% on a year-over-year basis to $620 million while adjusted earnings per share will be around $2.73, a 44% increase over 2016. In its wireline and wireless communication markets, significant expansion related to both 5G and fiber deployment will benefit its communications business. MasTec outperformed the industry in the past one year. Its estimates have gone up lately. The company’s performance in Canada continues to be weak. In the Communications segment, the company has been experiencing production inefficiencies in its install-to-home operations as well as the negative leverage effect of reduced home security, customer fulfillment activity and the exit of the customer phone delivery drop. Also its high debt level remains a concern.”

A number of other equities research analysts have also recently weighed in on MTZ. Vetr cut MasTec from a “buy” rating to a “hold” rating and set a $47.14 price target on the stock. in a report on Monday, June 12th. Credit Suisse Group upgraded MasTec from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $55.00 in a report on Monday, July 24th. ValuEngine upgraded MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. FBR & Co upped their price target on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, BidaskClub cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus price target of $53.36.

MasTec (MTZ) opened at 44.50 on Monday. The stock has a 50 day moving average price of $43.36 and a 200 day moving average price of $43.38. MasTec has a 52-week low of $27.10 and a 52-week high of $49.50. The stock has a market cap of $3.60 billion, a P/E ratio of 15.69 and a beta of 1.44.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, equities research analysts forecast that MasTec will post $2.74 EPS for the current year.

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Several institutional investors have recently modified their holdings of MTZ. Comerica Bank purchased a new position in shares of MasTec during the 1st quarter worth $1,236,000. UBS Asset Management Americas Inc. lifted its stake in shares of MasTec by 0.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after purchasing an additional 146 shares during the period. Karp Capital Management Corp purchased a new position in shares of MasTec during the 1st quarter worth $677,000. Envestnet Asset Management Inc. lifted its stake in shares of MasTec by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after purchasing an additional 197 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of MasTec by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 621,127 shares of the construction company’s stock worth $24,876,000 after purchasing an additional 70,305 shares during the period. 70.62% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and

According to Zacks, “MasTec currently estimates 2017 annual revenue of approximately $6.0 billion, a year-over-year improvement of 5%. Annual adjusted EBITDA is now projected to increase 30% on a year-over-year basis to $620 million while adjusted earnings per share will be around $2.73, a 44% increase over 2016. In its wireline and wireless communication markets, significant expansion related to both 5G and fiber deployment will benefit its communications business. MasTec outperformed the industry in the past one year. Its estimates have gone up lately. The company’s performance in Canada continues to be weak. In the Communications segment, the company has been experiencing production inefficiencies in its install-to-home operations as well as the negative leverage effect of reduced home security, customer fulfillment activity and the exit of the customer phone delivery drop. Also its high debt level remains a concern.”

A number of other equities research analysts have also recently weighed in on MTZ. Vetr cut MasTec from a “buy” rating to a “hold” rating and set a $47.14 price target on the stock. in a report on Monday, June 12th. Credit Suisse Group upgraded MasTec from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $55.00 in a report on Monday, July 24th. ValuEngine upgraded MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. FBR & Co upped their price target on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, BidaskClub cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus price target of $53.36.

MasTec (MTZ) opened at 44.50 on Monday. The stock has a 50 day moving average price of $43.36 and a 200 day moving average price of $43.38. MasTec has a 52-week low of $27.10 and a 52-week high of $49.50. The stock has a market cap of $3.60 billion, a P/E ratio of 15.69 and a beta of 1.44.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, equities research analysts forecast that MasTec will post $2.74 EPS for the current year.

WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/11/mastec-inc-mtz-rating-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors have recently modified their holdings of MTZ. Comerica Bank purchased a new position in shares of MasTec during the 1st quarter worth $1,236,000. UBS Asset Management Americas Inc. lifted its stake in shares of MasTec by 0.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after purchasing an additional 146 shares during the period. Karp Capital Management Corp purchased a new position in shares of MasTec during the 1st quarter worth $677,000. Envestnet Asset Management Inc. lifted its stake in shares of MasTec by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after purchasing an additional 197 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of MasTec by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 621,127 shares of the construction company’s stock worth $24,876,000 after purchasing an additional 70,305 shares during the period. 70.62% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

Analyst Recommendations for MasTec (NYSE:MTZ)

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