Zacks Investment Research upgraded shares of Macquarie Infrastructure Company (NYSE:MIC) from a hold rating to a strong-buy rating in a report published on Wednesday. The brokerage currently has $84.00 price objective on the conglomerate’s stock.
According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “
Several other brokerages also recently issued reports on MIC. BidaskClub raised shares of Macquarie Infrastructure from a sell rating to a hold rating in a research note on Tuesday, June 27th. Barclays PLC downgraded shares of Macquarie Infrastructure from an overweight rating to a hold rating and decreased their price target for the company from $89.00 to $83.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $88.00.
Macquarie Infrastructure (NYSE:MIC) opened at 72.70 on Wednesday. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 34.95 and a beta of 0.88. Macquarie Infrastructure has a 52-week low of $71.23 and a 52-week high of $85.45. The firm’s 50-day moving average price is $73.13 and its 200-day moving average price is $76.81.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.26). The firm had revenue of $438.99 million during the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. On average, equities analysts anticipate that Macquarie Infrastructure will post $1.89 EPS for the current year.
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Large investors have recently modified their holdings of the stock. Ffcm LLC raised its stake in Macquarie Infrastructure by 122.1% in the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock worth $159,000 after buying an additional 1,105 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Macquarie Infrastructure in the second quarter worth approximately $165,000. Benjamin F. Edwards & Company Inc. raised its stake in Macquarie Infrastructure by 13.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock worth $178,000 after buying an additional 271 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in Macquarie Infrastructure in the first quarter worth approximately $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Macquarie Infrastructure in the second quarter worth approximately $206,000. 80.53% of the stock is owned by institutional investors.
Macquarie Infrastructure 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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