Shares of Macquarie Infrastructure Corp (NYSE:MIC) have received an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $49.60.
Several equities analysts have commented on MIC shares. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Friday, June 22nd. SunTrust Banks set a $45.00 price objective on Macquarie Infrastructure and gave the company a “hold” rating in a research report on Sunday, April 22nd. ValuEngine downgraded Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, Barclays set a $41.00 price objective on Macquarie Infrastructure and gave the company a “hold” rating in a research report on Monday, March 26th.
In other news, major shareholder Group Ltd Macquarie purchased 385,752 shares of the company’s stock in a transaction dated Monday, June 25th. The shares were acquired at an average price of $42.36 per share, with a total value of $16,340,454.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Infrastructure Manag Macquarie purchased 415,926 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were purchased at an average cost of $37.77 per share, for a total transaction of $15,709,525.02. Following the transaction, the director now directly owns 6,212,743 shares in the company, valued at approximately $234,655,303.11. The disclosure for this purchase can be found here. Insiders have bought a total of 3,629,122 shares of company stock worth $142,395,002 in the last three months. Corporate insiders own 6.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. bought a new position in shares of Macquarie Infrastructure during the 4th quarter worth $105,000. Stratos Wealth Partners LTD. grew its position in shares of Macquarie Infrastructure by 570.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,886 shares of the conglomerate’s stock worth $144,000 after buying an additional 3,306 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Macquarie Infrastructure during the 4th quarter worth $148,000. Budros Ruhlin & Roe Inc. bought a new position in shares of Macquarie Infrastructure during the 1st quarter worth $221,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Macquarie Infrastructure during the 1st quarter worth $243,000. 73.80% of the stock is currently owned by institutional investors and hedge funds.
MIC opened at $42.31 on Monday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 16.53 and a beta of 1.25. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 1.10. Macquarie Infrastructure has a 52 week low of $36.20 and a 52 week high of $79.30.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings data on Wednesday, May 2nd. The conglomerate reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.35. The company had revenue of $501.56 million for the quarter, compared to the consensus estimate of $457.10 million. Macquarie Infrastructure had a return on equity of 6.04% and a net margin of 26.38%. equities research analysts expect that Macquarie Infrastructure will post 2.38 earnings per share for the current fiscal year.
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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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