Macquarie Infrastructure Corp (NYSE:MIC) has received an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $47.60.
Several equities analysts have recently commented on MIC shares. ValuEngine lowered Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target (down previously from $45.00) on shares of Macquarie Infrastructure in a research note on Thursday, February 21st. Zacks Investment Research upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Finally, Barclays lowered Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a research note on Tuesday, April 16th.
In other news, major shareholder Group Ltd Macquarie purchased 1,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $40.61 per share, for a total transaction of $40,610.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new position in Macquarie Infrastructure in the fourth quarter valued at about $27,000. Bronfman E.L. Rothschild L.P. grew its stake in Macquarie Infrastructure by 63.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 299 shares during the last quarter. Nordea Investment Management AB purchased a new position in Macquarie Infrastructure in the fourth quarter valued at about $28,000. Quad Cities Investment Group LLC grew its stake in Macquarie Infrastructure by 128.0% in the first quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 384 shares during the last quarter. Finally, Sage Capital Advisors llc purchased a new position in Macquarie Infrastructure in the fourth quarter valued at about $31,000. Institutional investors own 75.80% of the company’s stock.
MIC stock traded down $0.34 during midday trading on Thursday, reaching $41.56. The company’s stock had a trading volume of 525,577 shares, compared to its average volume of 686,529. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 19.60 and a beta of 1.56. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.95. Macquarie Infrastructure has a 1 year low of $33.71 and a 1 year high of $47.74.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Wednesday, February 20th. The conglomerate reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $437.76 million for the quarter, compared to analysts’ expectations of $453.40 million. Macquarie Infrastructure had a net margin of 6.93% and a return on equity of 8.18%. Research analysts expect that Macquarie Infrastructure will post 4.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 10th. This represents a $4.00 annualized dividend and a dividend yield of 9.62%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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