Macquarie Infrastructure Company (MIC) Given Consensus Rating of “Buy” by Analysts
Macquarie Infrastructure Company (NYSE:MIC) has received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $88.00.
Several research firms recently issued reports on MIC. Zacks Investment Research raised shares of Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, October 4th. BidaskClub cut shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Barclays PLC cut shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and decreased their target price for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MIC. Ffcm LLC boosted its position in shares of Macquarie Infrastructure by 122.1% in the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock worth $159,000 after acquiring an additional 1,105 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Macquarie Infrastructure in the second quarter worth approximately $165,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Macquarie Infrastructure by 13.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock worth $178,000 after acquiring an additional 271 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Macquarie Infrastructure in the first quarter worth approximately $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Macquarie Infrastructure in the second quarter worth approximately $206,000. 80.53% of the stock is currently owned by institutional investors and hedge funds.
Macquarie Infrastructure (MIC) traded down 0.76% during trading on Wednesday, reaching $71.72. 548,914 shares of the company’s stock traded hands. The firm has a market capitalization of $5.93 billion, a PE ratio of 34.48 and a beta of 0.88. The firm has a 50 day moving average of $73.07 and a 200 day moving average of $76.35. Macquarie Infrastructure has a 1-year low of $71.23 and a 1-year high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.26). Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. The company had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. Equities analysts forecast that Macquarie Infrastructure will post $1.86 EPS for the current year.
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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