Barclays Keeps a Buy Rating on MasTec (MTZ)
In a report issued on October 19, Adam Seiden from Barclays maintained a Buy rating on MasTec (MTZ), with a price target of $60.00. The company’s shares closed last Tuesday at $48.74.
According to TipRanks.com, Seiden is a 1-star analyst with an average return of -0.7% and a 42.5% success rate. Seiden covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Jacobs Engineering, and Aecom Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MasTec with a $57.17 average price target.
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Based on MasTec’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.57 billion and net profit of $57.01 million. In comparison, last year the company earned revenue of $1.94 billion and had a net profit of $120 million.
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MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers. The Oil and Gas segment offers services on oil and natural gas pipelines and processing facilities for the energy, and utilities industries. The Electrical Transmission segment deals with the energy and utility industries. The Power Generation and Industrial segment covers energy, utility and other end-markets through the installation and construction of conventional and renewable power facilities. The Other segment comprises of equity investees, other small business units that perform construction, and other services for a variety of international end-markets. The company was founded by Jorge Mas Canosa in 1994 and is headquartered in Coral Gables, FL.