On Jan. 07, Pita George divested U.S. $2,404,436 in shares of MasTec Inc.. The CFO sold 30,027 shares at a price per share of $80.08. The transaction decreased this specific insider’s holdings to 174,985 shares worth around $13.38 million at present.
B. Riley Securities maintained its MasTec Inc. [MTZ] rating to the equivalent of a Buy but changed the price target to $68 from $57, in a research note dated November 02, 2020. That figure represents around a -12.41% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with B. Riley Securities’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early November. Meanwhile, UBS had raised its rating on MTZ to “Buy” from the earlier “Neutral”, in a research note produced for clients August 12, 2020. In addition, there was no change from B. Riley FBR on May 04, 2020. The rater maintained MTZ to “a Buy” but assigned new target price of $46.
Is MasTec Inc. [NYSE:MTZ] a Good Buy Right Now?
It should be noted that MTZ technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from MasTec Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.79 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.87 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.77 million shares.
MTZ Price Performance
On Wall Street, MasTec Inc. [NYSE:MTZ] finished Friday’s session down -3.67% at $76.44. The stock went up to $80.065 at the same session while its lowest single day price was $74.7625. In the last five days, it saw a rise of about 12.11%, MasTec Inc. shares gained by almost 12.11% since the beginning of the year. However, the share price has dropped to as low as -6.60% below its one year high. On 01/07/21, the company shares recorded $81.84, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $67.05. The company’s shares have inclined by 22.83% in the past year. The 50-day SMA achieved is $61.39 while the 200-day SMA is $46.13. Volume gained to 1.18 million from 1.08 million in the previous session.
MasTec Inc. [MTZ] Valuation Measures
Notably, MasTec Inc. [MTZ] stock cannot be classified as a good candidate in the listing of underestimated low-priced Engineering & Construction companies to purchase soonest possible with the prevailing 12-month PE ratio of 18.27. The measure means the stock is exchanging at a premium as compared to the 14.42x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.92 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.69 which means MTZ serve an unattractive investment opportunity compared to its competitors.
MTZ Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 74.11 level, and in case of violation of this particular level, it will cause more drop to 71.79 level. On the upper level, 82.39 is still the key resistance. The stock may increase to the subsequent resistance at 79.42. The Relative Strength Index (RSI) pinned on the 14-day chart is 70.18, implying a overbought technical stance while the MACD stands at 7.56, meaning price will increase in the next trading period. Percent R indicator moved to 32.41%, implying low price movement. Stochastic %K at 83.75% suggest selling the stock.
What is the short interest in MasTec Inc.?
Short interest in the MasTec Inc. stock has surged, increasing by 0.25 million shares to total 8.73 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.98 million, data from Yahoo Finance shows. The decrease of -2.86% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 18.22% of the overall float for the stock.
MasTec Inc.’s Biggest Shareholders: Who Owns MasTec Inc. [MTZ]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,041,390 shares or roughly 8.18% of the outstanding MTZ shares. This means their shares have reduced by -253,703 from the 6,041,390 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $328,108,975. Details in the latest 13F filings reveal that Macquarie Investment Management B disposed off their -4.24% stake valued at $233,915,707 while Dimensional Fund Advisors LP added theirs at $178,369,453. During the last quarter, Macquarie Investment Management B liquidated -182,426 of its shares in MasTec Inc. while Dimensional Fund Advisors LP bought 148,879 shares. The Boston Partners Global Investors,’s holdings currently number 2,839,523 shares at $217053138.12. According to the firm’s last 13F report, LSV Asset Management shares in the company at filing stood at 2,365,662 shares, roughly $134,156,692.
MTZ Earnings Forecast For The Current Quarter
MasTec Inc. [MTZ] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.81B and an earnings per share of $1.67 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.56B at an EPS of $0.65 for Mar 2021. The estimates represent upside of 15.50% and -4.01% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MTZ Earnings Estimates For The Current Year
For the financial year, MasTec Inc. [NYSE:MTZ] is expected to bring in revenue of $6.49B. The returns are nearly $-690.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 5.04, lower than that of FY19 by -$0.17. Estimates put this year’s earnings growth at -3.30%, -4.00% for the next, and at an annual -3.76% over the next 5-year period. As for sales, forecasts are for a decrease of -9.70% in the current fiscal year and a further 15.50% over the following year.
What are analyst thoughts on MasTec Inc.?
Looking forward to the MasTec Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for MasTec Inc. stock at $75.00 within the next 12 months, which represents almost -1.92 per cent growth from its previous closing price of $76.44. The highest analysts’ target for MasTec Inc. stock projections is $86.00 and the lowest one is $58.00. Still, 11 analysts sharing their consensus rating for MTZ stock in 2021 agree that it is a Buy.