Macquarie Infrastructure Co. (MIC) Given Average Rating of “Buy” by Analysts
Shares of Macquarie Infrastructure Co. (NYSE:MIC) have received an average rating of “Buy” from the six analysts that are currently covering the firm. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $96.00.
Several research analysts have issued reports on MIC shares. TheStreet upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Thursday, October 6th.
Macquarie Infrastructure (NYSE:MIC) traded up 0.34% during mid-day trading on Monday, reaching $82.30. 157,595 shares of the company’s stock traded hands. The stock has a market cap of $6.71 billion, a P/E ratio of 77.57 and a beta of 1.02. The company has a 50 day moving average price of $81.92 and a 200-day moving average price of $75.29. Macquarie Infrastructure has a 12 month low of $51.83 and a 12 month high of $85.00.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.20. Macquarie Infrastructure had a return on equity of 2.69% and a net margin of 5.28%. The firm had revenue of $397.60 million for the quarter, compared to the consensus estimate of $399.95 million. On average, analysts anticipate that Macquarie Infrastructure will post $3.02 EPS for the current year.
In other news, Director Norman H. Brown, Jr. sold 4,000 shares of Macquarie Infrastructure stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $80.17, for a total value of $320,680.00. Following the completion of the sale, the director now owns 49,021 shares in the company, valued at approximately $3,930,013.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. bought a new stake in Macquarie Infrastructure during the first quarter valued at $322,000. Teachers Advisors Inc. raised its stake in Macquarie Infrastructure by 2.0% in the first quarter. Teachers Advisors Inc. now owns 61,535 shares of the company’s stock valued at $4,150,000 after buying an additional 1,200 shares in the last quarter. Franklin Resources Inc. bought a new stake in Macquarie Infrastructure during the first quarter valued at $797,000. BlackRock Inc. raised its stake in Macquarie Infrastructure by 41.7% in the first quarter. BlackRock Inc. now owns 19,350 shares of the company’s stock valued at $1,304,000 after buying an additional 5,690 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Macquarie Infrastructure by 14.6% in the first quarter. BlackRock Group LTD now owns 150,362 shares of the company’s stock valued at $10,140,000 after buying an additional 19,196 shares in the last quarter. Institutional investors own 83.22% of the company’s stock.
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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