Macquarie Infrastructure Corp (MIC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Macquarie Infrastructure Corp (NYSE:MIC) have received a consensus rating of “Buy” from the seven brokerages that are covering the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $91.33.

MIC has been the subject of a number of recent research reports. Zacks Investment Research raised Macquarie Infrastructure Corp from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays PLC upped their price target on Macquarie Infrastructure Corp from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Royal Bank of Canada reduced their price target on Macquarie Infrastructure Corp from $98.00 to $93.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. Finally, SunTrust Banks, Inc. initiated coverage on Macquarie Infrastructure Corp in a research report on Tuesday, March 21st. They set a “buy” rating and a $92.00 price target for the company.

Macquarie Infrastructure Corp (NYSE:MIC) opened at 78.48 on Monday. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 39.16 and a beta of 0.94. Macquarie Infrastructure Corp has a 12 month low of $68.53 and a 12 month high of $85.45. The company’s 50-day moving average is $79.78 and its 200 day moving average is $80.00.

Macquarie Infrastructure Corp (NYSE:MIC) last released its quarterly earnings results on Tuesday, February 21st. The conglomerate reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.30. Macquarie Infrastructure Corp had a return on equity of 3.71% and a net margin of 7.21%. The firm had revenue of $437.24 million during the quarter, compared to the consensus estimate of $244.46 million. On average, equities research analysts predict that Macquarie Infrastructure Corp will post $2.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 6.73%. The ex-dividend date was Thursday, May 11th. This is an increase from Macquarie Infrastructure Corp’s previous quarterly dividend of $1.11. Macquarie Infrastructure Corp’s dividend payout ratio is presently 351.02%.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Macquarie Infrastructure Corp by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock valued at $508,770,000 after buying an additional 545,647 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Macquarie Infrastructure Corp by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock worth $394,143,000 after buying an additional 356,949 shares during the period. Capital World Investors boosted its stake in Macquarie Infrastructure Corp by 27.3% in the third quarter. Capital World Investors now owns 3,170,000 shares of the conglomerate’s stock worth $263,871,000 after buying an additional 680,000 shares during the period. Principal Financial Group Inc. boosted its stake in Macquarie Infrastructure Corp by 2.2% in the third quarter. Principal Financial Group Inc. now owns 2,454,919 shares of the conglomerate’s stock worth $204,347,000 after buying an additional 53,321 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Macquarie Infrastructure Corp by 2.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,962,429 shares of the conglomerate’s stock worth $163,353,000 after buying an additional 48,056 shares during the period. 83.01% of the stock is owned by institutional investors.

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Macquarie Infrastructure Corp 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.

12 Month Chart for NYSE:MIC

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