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.
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.
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