Macquarie Infrastructure Co. (MIC) Given Average Rating of “Buy” by Analysts
Shares of Macquarie Infrastructure Co. (NYSE:MIC) have earned an average rating of “Buy” from the six brokerages that are currently covering the stock. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $96.00.
A number of equities analysts recently commented on MIC shares. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Thursday, October 6th. TheStreet upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $80.17, for a total value of $320,680.00. Following the completion of the transaction, the director now owns 49,021 shares in the company, valued at $3,930,013.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.50% of the stock is owned by company insiders.
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Institutional investors have recently bought and sold shares of the company. FineMark National Bank & Trust increased its position in Macquarie Infrastructure by 574.5% in the second quarter. FineMark National Bank & Trust now owns 1,484 shares of the company’s stock worth $109,000 after buying an additional 1,264 shares during the period. First Manhattan Co. increased its position in shares of Macquarie Infrastructure by 64.5% in the second quarter. First Manhattan Co. now owns 1,530 shares of the company’s stock valued at $113,000 after buying an additional 600 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Macquarie Infrastructure by 9.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,209 shares of the company’s stock valued at $164,000 after buying an additional 194 shares during the last quarter. RKL Wealth Management LLC bought a new position in shares of Macquarie Infrastructure during the second quarter valued at $203,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Macquarie Infrastructure during the second quarter valued at $213,000. Institutional investors and hedge funds own 83.22% of the company’s stock.
Macquarie Infrastructure (NYSE:MIC) traded up 0.34% during trading on Monday, reaching $82.30. 157,595 shares of the company’s stock were exchanged. Macquarie Infrastructure has a 12 month low of $51.83 and a 12 month high of $85.00. The firm has a 50 day moving average of $81.92 and a 200-day moving average of $75.29. The stock has a market cap of $6.71 billion, a PE ratio of 77.57 and a beta of 1.02.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.20. The company had revenue of $397.60 million for the quarter, compared to analysts’ expectations of $399.95 million. Macquarie Infrastructure had a net margin of 5.28% and a return on equity of 2.69%. On average, equities research analysts anticipate that Macquarie Infrastructure will post $3.02 earnings per share for the current fiscal year.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.
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