Macquarie Infrastructure Company (MIC) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Macquarie Infrastructure Company (NYSE:MIC) from a strong sell rating to a sell rating in a research note published on Friday, August 4th.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Macquarie Infrastructure from a hold rating to a buy rating and set a $87.00 target price for the company in a research note on Tuesday, July 18th. Barclays PLC cut shares of Macquarie Infrastructure from an overweight rating to a hold rating and dropped their price objective for the company from $89.00 to $83.00 in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $88.75.

Macquarie Infrastructure (NYSE MIC) opened at 72.11 on Friday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 34.67 and a beta of 0.92. Macquarie Infrastructure has a 12 month low of $71.23 and a 12 month high of $85.45. The stock’s 50 day moving average price is $75.80 and its 200-day moving average price is $77.91.

Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.26. The company had revenue of $438.99 million for the quarter, compared to analysts’ expectations of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. Equities analysts expect that Macquarie Infrastructure will post $1.92 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $1.38 dividend. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date was Thursday, August 10th. This represents a $5.52 annualized dividend and a dividend yield of 7.65%. Macquarie Infrastructure’s dividend payout ratio is 255.56%.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Macquarie Infrastructure by 3.4% in the second quarter. Vanguard Group Inc. now owns 6,527,430 shares of the conglomerate’s stock valued at $511,751,000 after buying an additional 213,571 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Macquarie Infrastructure by 4.4% in the second quarter. Macquarie Group Ltd. now owns 5,107,417 shares of the conglomerate’s stock valued at $400,421,000 after buying an additional 216,097 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Macquarie Infrastructure by 0.6% in the second quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock valued at $193,540,000 after buying an additional 14,255 shares in the last quarter. State Street Corp raised its position in shares of Macquarie Infrastructure by 4.7% in the second quarter. State Street Corp now owns 1,831,999 shares of the conglomerate’s stock valued at $143,638,000 after buying an additional 82,988 shares in the last quarter. Finally, Selz Capital LLC raised its position in shares of Macquarie Infrastructure by 1.7% in the second quarter. Selz Capital LLC now owns 1,041,049 shares of the conglomerate’s stock valued at $81,618,000 after buying an additional 17,029 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Macquarie Infrastructure

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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