Q4 2017 EPS Estimates for Macquarie Infrastructure Company Raised by Analyst (MIC)
Macquarie Infrastructure Company (NYSE:MIC) – Equities researchers at SunTrust Banks boosted their Q4 2017 EPS estimates for shares of Macquarie Infrastructure in a research note issued to investors on Thursday. SunTrust Banks analyst T. Richardson now forecasts that the conglomerate will post earnings of $0.67 per share for the quarter, up from their prior forecast of $0.66. SunTrust Banks also issued estimates for Macquarie Infrastructure’s Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $2.90 EPS.
Macquarie Infrastructure (NYSE:MIC) last released 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 company had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%.
MIC has been the topic of several other reports. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, April 15th. BidaskClub upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Barclays PLC cut 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 report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Macquarie Infrastructure presently has an average rating of “Hold” and a consensus price target of $88.75.
Several hedge funds and other institutional investors have recently made changes to their positions in MIC. Vanguard Group Inc. increased its position in shares of Macquarie Infrastructure by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock worth $508,770,000 after buying an additional 545,647 shares during the period. RidgeWorth Capital Management LLC increased its position in Macquarie Infrastructure by 99.2% in the first quarter. RidgeWorth Capital Management LLC now owns 765,525 shares of the conglomerate’s stock valued at $61,686,000 after buying an additional 381,175 shares during the last quarter. Macquarie Group Ltd. increased its position in Macquarie Infrastructure by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock valued at $394,143,000 after buying an additional 356,949 shares during the last quarter. Janus Capital Management LLC increased its position in Macquarie Infrastructure by 685.6% in the first quarter. Janus Capital Management LLC now owns 369,225 shares of the conglomerate’s stock valued at $29,752,000 after buying an additional 322,225 shares during the last quarter. Finally, State Street Corp increased its position in Macquarie Infrastructure by 18.2% in the first quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock valued at $140,932,000 after buying an additional 269,761 shares during the last quarter. Institutional investors own 86.02% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a dividend of $1.38 per share. The ex-dividend date is Thursday, August 10th. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.25%. Macquarie Infrastructure’s payout ratio is 244.45%.
Macquarie Infrastructure Company Profile
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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