Citigroup Has Lowered Expectations for MasTec (NYSE:MTZ) Stock Price

Key Points

• Citigroup lowered MasTec’s price target from $408 to $308 while maintaining a “buy” rating, implying roughly 81% upside from the stock’s $170.29 price.
• Analyst sentiment remains broadly positive: 19 analysts rate MasTec a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and an average target of $365.10.
• MasTec’s latest quarter showed revenue growth of 23.4% year over year to $4.37 billion, although EPS of $2.22 narrowly missed estimates; the stock is near its 52-week low and has fallen well below its 50- and 200-day moving averages.

MasTec (NYSE:MTZ - Get Free Report) had its price objective dropped by analysts at Citigroup from $408.00 to $308.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Citigroup's target price indicates a potential upside of 80.86% from the company's current price.

MTZ has been the subject of a number of other reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $274.00 target price on shares of MasTec in a report on Thursday. Barclays cut their price objective on shares of MasTec from $340.00 to $320.00 and set an "overweight" rating for the company in a research report on Monday. Morgan Stanley set a $369.00 price objective on MasTec in a research note on Friday, July 31st. Zacks Research cut MasTec from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lowered their target price on MasTec from $369.00 to $303.00 and set an "overweight" rating on the stock in a research report on Monday. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $365.10.

MasTec Stock Performance

MTZ stock traded down $1.25 during trading on Friday, reaching $170.29. The stock had a trading volume of 733,311 shares, compared to its average volume of 1,200,827. The firm has a market cap of $13.68 billion, a PE ratio of 27.20 and a beta of 1.84. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average is $227.57 and its two-hundred day moving average is $315.55. MasTec has a 52 week low of $164.31 and a 52 week high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company's revenue for the quarter was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts anticipate that MasTec will post 8.87 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently modified their holdings of MTZ. Fifth Third Wealth Advisors LLC increased its stake in shares of MasTec by 8.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,479 shares of the construction company's stock worth $530,000 after purchasing an additional 187 shares in the last quarter. Inspire Investing LLC boosted its holdings in MasTec by 37.8% in the 3rd quarter. Inspire Investing LLC now owns 4,703 shares of the construction company's stock worth $1,005,000 after buying an additional 1,289 shares during the period. SeaCrest Wealth Management LLC bought a new position in MasTec in the 3rd quarter worth $460,000. Root Financial Partners LLC bought a new position in MasTec in the 3rd quarter worth $50,000. Finally, Crossmark Global Holdings Inc. increased its stake in MasTec by 2.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,681 shares of the construction company's stock worth $1,000,000 after buying an additional 133 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.

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