MasTec (NYSE:MTZ) Stock, Quote.Headers.trade-ideas

MasTec

MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: communications; clean energy and infrastructure; oil and gas; power delivery; and other.

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MasTec, Inc.&#39;s (NYSE: MTZ) stock has gained nearly 31% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry&#39;s 24.5% growth, the broader Construction sector&#39;s 7.2% increase and the S&amp;P 500 index&#39;s 8.6% rise.

MasTec Stock Rallies 31% in the Past 6 Months: Is MTZ a Buy Right Now?

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Price Target

MasTec Analysts Increase Their Forecasts After Better-Than-Expected Earnings

Earnings Beats

MasTec, Inc. (NYSE: MTZ) reported mixed results in the second quarter of 2024, with earnings beating the Zacks Consensus Estimate and the revenues missing the same. On the other hand, the bottom and top lines increased year over year.

MasTec Q2 Earnings Beat, Revenues Lag, &#39;24 View Revised

MasTec Inc

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PCAR

ROAD

STRL

Shares of broader industrial and machinery stocks are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

MasTec, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtz#NYSE">MTZ</a>) stock has gained nearly 31% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry&#39;s 24.5% growth, the broader Construction sector&#39;s 7.2% increase and the S&amp;P 500 index&#39;s 8.6% rise.
This infrastructure construction company is banking on increasing demand for power, data capacity and network speed. Also, MTZ&#39;s focus on strategic investments for portfolio diversification positions it well for satiating increased infrastructure demand globally. Moreover, the company is optimistic about its growth opportunities in 2025 and beyond, given the solid pipeline across its businesses and acquisition synergies.
MTZ stock also outpaced its competitors like EMCOR Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eme#NYSE">EME</a>), Quanta Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pwr#NYSE">PWR</a>) and AECOM (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acm#NYSE">ACM</a>), which rallied 18.9%, 10.8% and 6.3%, respectively, in the six-month period.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e8/77728.jpg?v=1768968619" />
Image Source: Zacks Investment Research
Technical indicators are supportive of MTZ&#39;s strong performance. As of Thursday, the stock is trading at $110.40, comfortably above its 50-day moving average of $106.62.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/77735.jpg?v=518729280" />
Image Source: Zacks Investment Research
<h2>What&#39;s Supporting MTZ Stock&#39;s Outperformance?</h2>
Strong Outlook for 2024: MasTec&#39;s robust 18-month backlog of $13.3 billion provides strong visibility into 2024. The company raised its full-year guidance, expecting consolidated revenues of $12.4 billion (prior expected $12.55 billion), up from $12 billion year over year. Adjusted EBITDA is projected to be $975 million, an increase from $860.3 million in 2023, with a margin improvement of 7.9% (up from 7.8% expected earlier and 7.2% reported in 2023).
Adjusted earnings per share are forecasted to be $3.03, up from $1.97 expected earlier. The Clean Energy and Infrastructure segment is expected to increase 10% in 2024, reaching $4.4 billion in revenues, with continued growth anticipated beyond 2024.
Solid Backlog Poses Strength for Future: As of June 30, 2024, MasTec&#39;s Clean Energy and Infrastructure backlog increased 10.3% year over year and 4.6% sequentially, with a 1.2x book-to-bill ratio, providing strong visibility into future projects. The Power Delivery segment saw a 12% year-over-year increase and a 20% sequential growth in backlog, highlighted by a major 700-mile high-voltage transmission project starting in 2025. This project, one of the largest in the United States, will generate $300-$500 million annually through 2028, positioning the segment for strong growth.
The Communications segment saw a 1.7% sequential increase and 8.8% year-over-year backlog growth, with revenues expected to rise 4.5% in 2024. Adjusted EBITDA margins remain strong in the high single digits.
The company is optimistic about its growth opportunities. The robust demand for its services suggests the potential for double-digit revenues and earnings growth in 2025 and beyond. Despite short-term pressure in the power delivery segment, the long-term outlook is improving significantly. Meanwhile, the company continues to experience strong demand in both renewables and infrastructure projects. Based on anticipated bookings, it is well-positioned for substantial growth in 2025.
<img alt="MasTec Corporate Presentation" src="https://staticx-tuner.zacks.com/images/articles/charts/2c/77733.jpg?v=1448717556" />
Image Source: MasTec Corporate Presentation
Expanding Communications Pipeline: MasTec has deepened its relationship with AT&amp;T, its largest wireless client, as AT&amp;T expanded the scope and geographic reach of MasTec&#39;s core wireless services, in addition to a maintenance contract secured in the third quarter of 2023. This, combined with AT&amp;T&#39;s plan to replace Nokia equipment with Ericsson over the next five years, is expected to significantly boost MasTec&#39;s wireless business. The impact will start in the second half of 2024, with segment revenues expected to grow by double digits in 2025.
MasTec is positioned for nearly 20% organic revenue growth in the second half of 2024. Additionally, the growing demand for wireline services and the anticipated Broadband Equity, Access, and Deployment (BEAD) program funding provide long-term visibility. New customers, including private equity-backed entrants, are showing strong interest in MasTec&#39;s comprehensive solutions, enhancing its growth prospects in 2025 and beyond.
Strategic Acquisitions &amp; Equity Investments: MasTec remains focused on bolt-on acquisitions, completing four in 2023 and five in 2022. Additionally, it holds equity stakes in several telecommunications entities that provide construction services to the company.
As of March 31, 2024, MasTec had $22 million in total investments, including $18 million for FM Tech. It also holds 49% equity interests in entities within its Communications and Power Delivery segments, with a $3 million investment and a 75% equity stake in Confluence Networks, LLC, an undersea fiber-optic systems developer, totaling $2.5 million.
<h2>Other Parameters Reflecting MTZ&#39;s Solid Growth Prospect</h2>
Analysts are showing confidence in the stock, as indicated by recent upward revisions in earnings estimates. Over the last 60 days, forecasts for 2024 and 2025 have increased to $3.02 (from $2.94) and $4.35 (from $4.33), respectively.
The company also has a solid earnings surprise history. Its EPS surpassed the consensus estimate in three of the trailing four quarters and missed on one occasion, with the average surprise being 19.4%. Notably, the company currently has a VGM Score of A, which signifies that MTZ has solid growth prospects and the potential to outperform the market in the near term.
These positive trends signify bullish analysts&#39; sentiments, indicating robust fundamentals and the expectation of continued outperformance in the near term.
<h2>Is MasTec a Smart Investment Choice Today?</h2>
In the competitive non-residential services sector, MasTec, a leading infrastructure construction company with an $8.75 billion market cap, distinguishes itself. MTZ is strategically situated to capitalize on converging trends, providing multiple paths for near-and-long-term profitable growth. Its diversified portfolio with significant growth potential in all segments makes the stock the best investment option at the moment.
Also, upward revisions in earnings estimates reinforce its Zacks Rank #2 (Buy) rating, making MTZ an attractive addition to investors&#39; portfolios at present.
<a href="https://www.zacks.com/stock/news/2336063/mastec-stock-rallies-31-in-the-past-6-months-is-mtz-a-buy-right-now?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2336063">To read this article on Zacks.com click here.</a>

PRIM

USLM

Shares of building and construction-related stocks are trading lower after July construction spending data missed estimates. The sector may be moving lower amid overall market weakness after August's ISM Manufacturing PMI data indicated an economic contraction.

MasTec's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) short percent of float has fallen 14.64% since its last report. The company recently reported that it has 2.54 million shares sold short, which is 4.08% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.01 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>MasTec Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724964310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for MasTec has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing MasTec's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, MasTec's peer group average for short interest as a percentage of float is 5.60%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into MasTec's Recent Short Interest

DA Davidson analyst Brent Thielman maintains MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Buy and raises the price target from $120 to $125.

DA Davidson Maintains Buy on MasTec, Raises Price Target to $125

MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) reported better-than-expected second-quarter adjusted earnings results, after the <a href="https://www.benzinga.com/quote/MTZ/earnings">closing bell on Thursday.</a>
MasTec reported quarterly earnings of 96 cents per share which beat the analyst consensus estimate of 87 cents per share. The company reported quarterly sales of $2.961 billion which missed the analyst consensus estimate of $3.092 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Jose Mas, MasTec&#8217;s Chief Executive Officer, commented &#8220;We are pleased with our solid second quarter performance, and expect to build on this momentum during the balance of 2024 and in 2025. Our record backlog in multiple segments illustrates the confidence our customers have in MasTec to partner on their strategic capital programs. I&#8217;d like to highlight that during the second quarter, MasTec was awarded an approximately 700-mile high voltage transmission project that is expected to start in early 2025. We are experiencing significant demand for our services and look forward to continue delivering best in class execution for our customers in a safe, timely and cost-effective manner through the hard work and dedication of the men and women of MasTec.&#8221;
MasTec said it sees 2024 revenue of $12.4 billion, versus estimates of $12.55 billion. The company expects adjusted EPS of $3.03 versus expectations of $2.95.
MasTec shares fell 0.5% to trade at $101.65 on Monday.
These analysts made changes to their price targets on MasTec following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/666c3aa1e56ade000115ab03/brian-brophy">Stifel analyst Brian Brophy</a> maintained MasTec with a Buy and raised the price target from $120 to $121.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ac4af1b85e930001e6383a/jamie-cook">Truist Securities analyst Jamie Cook</a> reiterated the stock with a Hold and raised the price target from $109 to $112.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a3019243eaaa00011f4051/alex-rygiel">B. Riley Securities analyst Alex Rygiel</a> maintained MasTec with a Buy and boosted the price target from $132 to $134.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40161976/home-depot-to-rally-more-than-14-here-are-10-top-analyst-forecasts-for-monday">Home Depot To Rally More Than 14%? Here Are 10 Top Analyst Forecasts For Monday</a></li>
</ul>

B. Riley Securities analyst Alex Rygiel maintains MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Buy and raises the price target from $132 to $134.

B. Riley Securities Maintains Buy on MasTec, Raises Price Target to $134

Truist Securities analyst Jamie Cook reiterates MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Hold and raises the price target from $109 to $112.

Reiteration

Truist Securities Reiterates Hold on MasTec, Raises Price Target to $112

Stifel analyst Brian Brophy maintains MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Buy and raises the price target from $120 to $121.

Stifel Maintains Buy on MasTec, Raises Price Target to $121

MasTec, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtz#NYSE">MTZ</a>) reported mixed results in the second quarter of 2024, with earnings beating the Zacks Consensus Estimate and the revenues missing the same. On the other hand, the bottom and top lines increased year over year.
The company&#39;s results reflect solid contributions from its Oil and Gas segment, partially offset by soft contributions from the other reportable segments. The uptick in the Oil and Gas segment was attributable to higher project activity levels on the back of increased demand and project timing-related increases in large-diameter and midstream project activity due to improved market and regulatory conditions. This was partially offset by a reduction in pipeline integrity services.
That said, the company&#39;s increased backlog levels across its segments are encouraging for the remainder of 2024 and through 2025, showcasing the increased consumer confidence in its services. MTZ aims to focus on efficiently executing its services to continuously improve its growth prospects. Also, its focus on strategic investments for portfolio diversification positions it well for satiating the increased infrastructure demands, globally.
<h3>Inside the Headlines</h3>
Adjusted earnings per share of 96 cents topped the Zacks Consensus Estimate of 88 cents by 9.1%. In the year-ago quarter, the company reported an adjusted EPS of 89 cents.
Revenues of $2.96 billion missed the consensus mark of $3.09 billion by 4.2%. On the other hand, the top line grew 3.1% from $2.87 billion a year ago.
<div class="chart_embed">
<h3>MasTec, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="MasTec, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/69/1722610579.png" style="height:265px; width:584px" title="" />
MasTec, Inc. price-consensus-eps-surprise-chart | MasTec, Inc. QuoteMTZ
At the end of Jun 30, 2024, the company had an 18-month backlog of $13.3 billion, down 0.7% year over year but up 3.9% sequentially. The sequential growth was driven by a multi-year transmission and substation project, and strong bookings in the Clean Energy &amp; Infrastructure segment in the quarter.
</div>
<h3>Segment Update</h3>
Revenues from Communications slipped to $824.6 million from $868.7 million reported a year ago. Adjusted EBITDA margin contracted 90 basis points (bps) to 9.9%.
Clean Energy and Infrastructure&#39;s revenues decreased year over year to $942.3 million from $969.7 million. Adjusted EBITDA margin was 5%, down from 5.1% in the year-ago quarter.
Revenues from the Oil and Gas segment increased 67.5% from the year-ago figure of $572.4 million. Adjusted EBITDA margin expanded 110 bps to 23.6%.
The Power Delivery (formerly known as Electrical Transmission) segment&#39;s revenues totaled $636.6 million, down from $702.6 million in the year-ago quarter. Adjusted EBITDA margin was 8.1%, down from 8.2% reported in the year-ago period.
<h3>Operational Update</h3>
MasTec reported an adjusted EBITDA of $267.8 million, up 4.9% from $255.4 million in the prior-year period. Adjusted EBITDA margin increased to 9% from 8.9% in the year-ago quarter.
<h3>Financial Details</h3>
As of Jun 30, 2024, MasTec had cash and cash equivalents of $297.6 million, down from $529.6 million in 2023-end. Long-term debt (including finance leases) was $2.36 billion, down from $2.89 billion in 2023-end.
At the end of the first six months of 2024, the net cash provided by operating activities was $372.2 million against net cash used in operating activities of $97.9 million a year ago.
<h3>Q3 2024 View</h3>
MasTec expects revenues of about $3.45 billion compared with $3.26 billion reported in the third quarter of 2023.
Adjusted EBITDA is estimated to be approximately $295 million, up from $271 million a year ago. The adjusted EBITDA margin is expected to be 8.6%, up from 8.3% reported in the prior-year quarter.
The company expects to report adjusted EPS of $1.24, up from the year-ago quarter&#39;s figure of 95 cents.
<h3>2024 Guidance Revised</h3>
The company now expects to generate revenues of approximately $12.4 billion (priorly expected $12.55 billion), up year over year from $12 billion.
Adjusted EBITDA is still expected to be around $975 million, up year over year from $860.3 million. The company raised its adjusted EBITDA margin expectation to 7.9% from 7.8% compared with 7.2% reported in 2023.
Adjusted earnings are now anticipated to be $3.03 per share (priorly expected $2.95 per share), up from $1.97 reported in the prior year.
<h3>Zacks Rank &amp; Recent Construction Releases</h3>
MasTec currently carries a Zacks Rank #3 (Hold).
Quanta Services Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pwr#NYSE">PWR</a>) reported mixed results for the second quarter of 2024, wherein adjusted earnings missed the Zacks Consensus Estimate while revenues surpassed the same. Both metrics increased on a year-over-year basis.
PWR&#39;s performance in the second quarter marks a strong base for the rest of 2024, characterized by impressive growth across key metrics. Moreover, the company has raised its 2024 guidance for major metrics, owing to the expected contributions from its recent acquisition of CEI.
KBR, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbr#NYSE">KBR</a>) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate while revenues missed the same. The bottom and top lines increased on a year-over-year basis.
KBR performed well across key metrics and expects this trend to continue for the rest of the year. Driven by the robust performance in its core business, KBR raised its adjusted EBITDA and cash flow guidance for 2024.
Armstrong World Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/awi#NYSE">AWI</a>) reported solid results for second-quarter 2024, wherein earnings and net sales topped the Zacks Consensus Estimate and increased on a year-over-year basis.
The company&#39;s growth trend was backed by solid contributions from the Mineral Fiber as well as Architectural Specialties segments. Growth was attributed to the increase in average unit value and volume. Also, contributions from recent acquisitions aided the uptrend.
<a href="https://www.zacks.com/stock/news/2315534/mastec-mtz-q2-earnings-beat-revenues-lag-24-view-revised?cid=CS-BENZ-FT-analyst_blog|earnings_article-2315534">To read this article on Zacks.com click here.</a>

MasTec Q2 Earnings Beat, Revenues Lag, '24 View Revised

General

MasTec shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

MasTec Sees 2024 Revenue ~$12.4B vs $12.55B Est., Adj. EPS $3.03 vs $2.95 Est.; Sees Q3 Revenue ~$3.45B vs $3.44B Est., Adj. EPS $1.24 vs $1.22 Est.

MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) reported quarterly earnings of $0.96 per share which beat the analyst consensus estimate of $0.87 by 10.34 percent. The company reported quarterly sales of $2.961 billion which missed the analyst consensus estimate of $3.092 billion by 4.24 percent. This is a 3.02 percent increase over sales of $2.874 billion the same period last year.

Earnings Misses

MasTec Q2 2024 Adj. EPS $0.96 Beats $0.87 Estimate, Sales $2.961B Miss $3.092B Estimate

MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) has been analyzed by 14 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $119.43, a high estimate of $132.00, and a low estimate of $109.00. Marking an increase of 13.67%, the current average surpasses the previous average price target of $105.07. 
<img src="https://www.benzinga.com/files/images/story/2024/1721678431_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of MasTec among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Kaplowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$122.00</td>
<td>$118.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$132.00</td>
<td>$132.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$132.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$109.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$120.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Christian Schwab</td>
<td>Craig-Hallum</td>
<td>Raises</td>
<td>Buy</td>
<td>$125.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Marc Bianchi</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$110.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$130.00</td>
<td>$106.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$113.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$109.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Andrew Wittmann</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$110.00</td>
<td>$89.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to MasTec. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of MasTec compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of MasTec's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of MasTec's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MTZ/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on MasTec analyst ratings.</a>
<h2>Unveiling the Story Behind MasTec</h2>
MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: 1) communications; 2) clean energy and infrastructure; 3) oil and gas; 4) power delivery, and 5) other.
<h3>MasTec's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, MasTec showcased positive performance, achieving a revenue growth rate of 3.95% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -1.53%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): MasTec's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -1.53%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): MasTec's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -0.45%, the company may face hurdles in achieving optimal financial performance.
Debt Management: MasTec's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.18, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into MasTec Stock: Analyst Perspectives (14 Ratings)

Citigroup analyst Andrew Kaplowitz maintains MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Buy and raises the price target from $118 to $122.

Citigroup Maintains Buy on MasTec, Raises Price Target to $122

MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) has outperformed the market over the past 20 years by 8.83% on an annualized basis producing an average annual return of 17.23%. Currently, MasTec has a market capitalization of $8.55 billion. 
Buying $100 In MTZ: If an investor had bought $100 of MTZ stock 20 years ago, it would be worth $2,531.76 today based on a price of $107.60 for MTZ at the time of writing.
<h3>MasTec's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720816231_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 20 Years Ago, You Would Have $2,500 Today

MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) underwent analysis by 14 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $118.14, a high estimate of $132.00, and a low estimate of $104.00. Witnessing a positive shift, the current average has risen by 13.91% from the previous average price target of $103.71.
<img src="https://www.benzinga.com/files/images/story/2024/1719507633_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive MasTec. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$132.00</td>
<td>$132.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$132.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$109.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$120.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Christian Schwab</td>
<td>Craig-Hallum</td>
<td>Raises</td>
<td>Buy</td>
<td>$125.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Marc Bianchi</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$110.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$130.00</td>
<td>$106.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$113.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$109.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Andrew Wittmann</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$110.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Andrew Kaplowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$104.00</td>
<td>$99.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to MasTec. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of MasTec compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of MasTec's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of MasTec's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MTZ/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on MasTec analyst ratings.</a>
<h2>Discovering MasTec: A Closer Look</h2>
MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: 1) communications; 2) clean energy and infrastructure; 3) oil and gas; 4) power delivery, and 5) other.
<h3>Unraveling the Financial Story of MasTec</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: MasTec's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 3.95%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: MasTec's net margin is impressive, surpassing industry averages. With a net margin of -1.53%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): MasTec's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -1.53%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): MasTec's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.45%, the company may face hurdles in achieving optimal financial returns.
Debt Management: MasTec's debt-to-equity ratio stands notably higher than the industry average, reaching 1.18. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down MasTec: 14 Analysts Share Their Views

B. Riley Securities analyst Alex Rygiel reiterates MasTec (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) with a Buy and maintains $132 price target.

B. Riley Securities Reiterates Buy on MasTec, Maintains $132 Price Target

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer recommended buying The PNC Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>). &#8220;I've always liked it, I think it's going to go to an all-time high and then go <a href="https://www.benzinga.com/news/24/05/38710149/cyberattack-group-shifts-focus-to-banks-insurers-after-casinos">higher,&#8221; he added</a>.
On June 5, PNC Bank launched a $120,000 scholarship program to expand access to higher education.
Energy Fuels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) is a &#8220;momentum&#8221; stock, Cramer said. &#8220;I am going to go with GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) because if we are going to have nuclear, they're going to be the winner.&#8221;
On June 5, Roth MKM analyst Joe Reagor downgraded Energy Fuels from Buy to Neutral and lowered the price target from $6.5 to $6.25.
When asked about Core Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), he said, &#8220;I happen to like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), and I happen to like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and I like the ETFs. And that's what I stick by. I like the <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38312296/jim-cramer-recommends-buying-ethereum-or-bitcoin-instead-of-this-stock-lets-not-fool-aro">clarity and the purity</a>.&#8221;
On June 5, Core Scientific released unaudited production and operations updates for May 2024.
The Mad Money host said MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) is a &#8220;great infrastructure play, and it's coming back.&#8221;
On June 5, MasTec reported the pricing of its public offering of $550 million of senior notes due 2029.
When asked about Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), he said, &#8220;That's a part of enterprise software that is just simply not working right now. We're going to have to see another quarter before we can get behind Workday.&#8221;
On May 23, Workday reported quarterly earnings of $1.74 per share which beat the analyst consensus estimate of $1.58 per share. Quarterly sales came in at $1.99 billion which beat the analyst consensus estimate of $1.973 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Price Action:
<ul>
<li>PNC shares rose 0.3% to settle at $154.60 on Wednesday.</li>
<li>Energy Fuels shares fell 4.1% to close at $6.10 on Wednesday.</li>
<li>Core Scientific gained 4.7% to close at $7.15 during Wednesday's session.</li>
<li>MasTec shares rose 2.3% to close at $110.43.</li>
<li>Workday shares gained 0.6% to close at $212.46 on Wednesday.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/24/06/39182518/top-4-consumer-stocks-that-may-implode-in-q2">Top 4 Consumer Stocks That May Implode In Q2</a>
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MasTec Schedules Fourth Quarter 2023 Earnings Release and Conference Call

MasTec Announces Fourth Quarter and Annual 2023 Financial Results and Provides Initial 2024 Guidance

MasTec Schedules First Quarter 2024 Earnings Release and Conference Call

MasTec Announces First Quarter 2024 Financial Results and Raises Guidance for the Year

MasTec Announces Commencement of Cash Tender Offer for IEA's 6.625% Senior Notes due 2029

Offerings

MasTec Announces Pricing of $550,000,000 of Senior Notes

MasTec, Inc. Announces Results of Early Participation in Tender Offer and Consent Solicitation

MasTec Schedules Second Quarter 2024 Earnings Release and Conference Call

MasTec Announces Second Quarter 2024 Financial Results and Updates Guidance for the Year

MasTec Senior Management to Participate in Webcast Fireside Chats at the Morgan Stanley and D.A. Davidson Institutional Investor Conferences

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MasTec (MTZ) Forecast

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