Macquarie Infrastructure Company (MIC) Releases Quarterly Earnings, Misses Estimates By $0.13 EPS
Macquarie Infrastructure Company (NYSE:MIC) released its earnings data on Wednesday. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.13, Stock Ratings News reports. The company had revenue of $280.90 million for the quarter, compared to the consensus estimate of $325.99 million.
In other Macquarie Infrastructure Company news, CEO James Hooke purchased 2,830 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 17th. The stock was purchased at an average price of $66.50 per share, with a total value of $188,195.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Macquarie Infrastructure Company (NYSE:MIC) traded down 0.69% during mid-day trading on Wednesday, hitting $70.04. 682,102 shares of the company’s stock traded hands. Macquarie Infrastructure Company has a 1-year low of $51.52 and a 1-year high of $73.47. The stock’s 50-day moving average is $65.31 and its 200-day moving average is $58.82. The company has a market cap of $3.958 billion and a P/E ratio of 82.59.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Monday, August 11th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Thursday, August 7th. This is an increase from Macquarie Infrastructure Company’s previous quarterly dividend of $0.94.
A number of analysts have recently weighed in on MIC shares. Analysts at Oppenheimer raised their price target on shares of Macquarie Infrastructure Company from $65.00 to $77.00 in a research note on Thursday, July 10th. They now have an “outperform” rating on the stock. Analysts at Macquarie downgraded shares of Macquarie Infrastructure Company from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 8th. They now have a $58.30 price target on the stock.
Macquarie Infrastructure Company LLC (NYSE:MIC) owns, operates and invests in a diversified group of infrastructure businesses in the United States.
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