Macquarie Infrastructure (MIC) Issues Earnings Results

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Macquarie Infrastructure (NYSE:MIC) posted its earnings results on Wednesday. The conglomerate reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.21), Fidelity Earnings reports. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. The business had revenue of $473.28 million for the quarter, compared to the consensus estimate of $476.20 million.

Shares of NYSE MIC traded up $2.30 during midday trading on Thursday, reaching $39.25. The stock had a trading volume of 55,139 shares, compared to its average volume of 937,408. The company has a market capitalization of $3.23 billion, a P/E ratio of 15.30 and a beta of 1.25. Macquarie Infrastructure has a twelve month low of $36.20 and a twelve month high of $70.35. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.35 and a current ratio of 2.41.

A number of research firms have weighed in on MIC. Oppenheimer set a $60.00 target price on shares of Macquarie Infrastructure and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Macquarie Infrastructure from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. SunTrust Banks set a $49.00 target price on shares of Macquarie Infrastructure and gave the stock a “hold” rating in a report on Monday, July 23rd. Finally, Barclays boosted their target price on shares of Macquarie Infrastructure from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $51.00.

In other news, Director Ouma Sananikone purchased 2,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were purchased at an average price of $46.69 per share, for a total transaction of $93,380.00. Following the transaction, the director now owns 17,598 shares of the company’s stock, valued at $821,650.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Henry E. Lentz purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was purchased at an average price of $45.97 per share, for a total transaction of $114,925.00. Following the transaction, the director now directly owns 31,964 shares in the company, valued at approximately $1,469,385.08. The disclosure for this purchase can be found here. Insiders bought a total of 1,143,903 shares of company stock worth $53,065,139 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Macquarie Infrastructure Company Profile

Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Earnings History for Macquarie Infrastructure (NYSE:MIC)

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