Macquarie Infrastructure Company (MIC) Receives $89.33 Consensus Price Target from Analysts
Shares of Macquarie Infrastructure Company (NYSE:MIC) have received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.33.
A number of research analysts recently issued reports on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub raised shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC lowered shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their price target for the company from $89.00 to $83.00 in a research note on Tuesday, July 18th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American National Insurance Co. TX bought a new position in shares of Macquarie Infrastructure during the first quarter worth $419,000. DekaBank Deutsche Girozentrale raised its position in shares of Macquarie Infrastructure by 142.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,338 shares of the conglomerate’s stock worth $449,000 after buying an additional 3,138 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of Macquarie Infrastructure by 88.7% in the first quarter. State of Wisconsin Investment Board now owns 77,068 shares of the conglomerate’s stock worth $6,210,000 after buying an additional 36,221 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Macquarie Infrastructure by 0.6% in the second quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock worth $193,540,000 after buying an additional 14,255 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Macquarie Infrastructure during the second quarter worth $267,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macquarie Infrastructure (NYSE:MIC) traded down 0.01% during mid-day trading on Tuesday, reaching $74.47. 133,647 shares of the company were exchanged. The stock has a market capitalization of $6.16 billion, a P/E ratio of 35.80 and a beta of 0.92. Macquarie Infrastructure has a 12 month low of $71.23 and a 12 month high of $85.45. The firm has a 50-day moving average price of $74.69 and a 200 day moving average price of $77.58.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. The firm had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Equities research analysts anticipate that Macquarie Infrastructure will post $1.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $1.38 dividend. The ex-dividend date was Thursday, August 10th. This represents a $5.52 dividend on an annualized basis and a yield of 7.41%. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.32. Macquarie Infrastructure’s payout ratio is presently 255.56%.
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About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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