In a report released today, Andrew Wittmann from Robert W. Baird maintained a Buy rating on MasTec (MTZ), with a price target of $43.00. The company’s shares closed last Monday at $35.85.
According to TipRanks.com, Wittmann is a 4-star analyst with an average return of 6.1% and a 59.4% success rate. Wittmann covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Construction Partners, and Healthcare Services.
Currently, the analyst consensus on MasTec is a Strong Buy with an average price target of $49.90, which is a 38.6% upside from current levels. In a report issued on April 27, Citigroup also maintained a Buy rating on the stock with a $40.00 price target.
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Based on MasTec’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.71 billion and net profit of $101 million. In comparison, last year the company earned revenue of $1.92 billion and had a net profit of $31.94 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.