B. Riley Has Positive Outlook of MasTec FY2025 Earnings

Key Points

• B. Riley increased their FY2025 earnings forecast for MasTec to $5.96 per share, up from $5.76, indicating a strong outlook compared to the consensus estimate of $3.44 per share.
• Multiple firms, including Barclays and TD Cowen, have issued buy ratings and significantly raised their target prices for MasTec, with estimates reaching up to $210.
• MasTec reported a 19.7% increase in quarterly revenue year-over-year, totaling $3.55 billion, exceeding analyst expectations and demonstrating solid growth in the infrastructure sector.

MasTec, Inc. (NYSE:MTZ - Free Report) - Equities researchers at B. Riley upped their FY2025 EPS estimates for shares of MasTec in a note issued to investors on Monday, August 4th. B. Riley analyst L. Burke now expects that the construction company will post earnings per share of $5.96 for the year, up from their prior forecast of $5.76. The consensus estimate for MasTec's current full-year earnings is $3.44 per share.

A number of other research firms also recently issued reports on MTZ. The Goldman Sachs Group boosted their price target on shares of MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research note on Thursday. DA Davidson set a $210.00 target price on MasTec and gave the company a "buy" rating in a report on Monday. Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. KeyCorp increased their price objective on MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Jefferies Financial Group initiated coverage on MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of "Buy" and a consensus target price of $195.12.

MasTec Trading Down 0.8%

Shares of MasTec stock traded down $1.52 during mid-day trading on Wednesday, hitting $181.46. The stock had a trading volume of 771,373 shares, compared to its average volume of 1,063,984. MasTec has a 12-month low of $96.01 and a 12-month high of $194.00. The firm has a market cap of $14.32 billion, a P/E ratio of 53.69 and a beta of 1.83. The firm has a 50-day moving average of $171.57 and a two-hundred day moving average of $145.95. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis.

Insider Activity

In related news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the sale, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $4,018,570 over the last ninety days. Corporate insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP lifted its holdings in shares of MasTec by 3.9% during the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company's stock valued at $245,000 after purchasing an additional 78 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock valued at $52,000 after purchasing an additional 82 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of MasTec by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company's stock worth $338,000 after purchasing an additional 93 shares in the last quarter. ProShare Advisors LLC lifted its position in MasTec by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company's stock worth $463,000 after buying an additional 97 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of MasTec by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company's stock worth $2,007,000 after acquiring an additional 100 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.