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.
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