Macquarie Infrastructure Corp (NYSE:MIC) declared a quarterly dividend on Thursday, October 31st, Fidelity reports. Investors of record on Monday, November 11th will be paid a dividend of 1.00 per share by the conglomerate on Thursday, November 14th. This represents a $4.00 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date of this dividend is Thursday, November 7th.
NYSE MIC traded down $1.27 during trading hours on Tuesday, reaching $42.20. 24,992 shares of the company’s stock traded hands, compared to its average volume of 577,226. Macquarie Infrastructure has a 52-week low of $33.71 and a 52-week high of $43.83. The firm has a market cap of $3.77 billion, a PE ratio of 19.90 and a beta of 1.40. The firm has a 50-day simple moving average of $39.57 and a 200 day simple moving average of $40.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.60 and a quick ratio of 1.56.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.35. The business had revenue of $405.00 million during the quarter, compared to analyst estimates of $417.40 million. Macquarie Infrastructure had a net margin of 8.14% and a return on equity of 12.43%. Sell-side analysts forecast that Macquarie Infrastructure will post 4.81 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. Barclays set a $39.00 price objective on shares of Macquarie Infrastructure and gave the company a “sell” rating in a research note on Tuesday, October 15th. TD Securities reduced their price objective on shares of Macquarie Infrastructure from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada upgraded shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $51.00 in a research note on Tuesday, July 9th. CIBC restated an “average” rating and set a $56.00 price objective on shares of Macquarie Infrastructure in a research note on Thursday, October 31st. Finally, National Bank Financial raised their price objective on shares of Macquarie Infrastructure from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.33.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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