Macquarie Infrastructure Corp (NYSE:MIC) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 6,858,617 shares, a growth of 37.9% from the February 15th total of 4,973,987 shares. Based on an average trading volume of 7,362,600 shares, the short-interest ratio is currently 0.9 days. Currently, 8.7% of the shares of the company are sold short.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Zacks Investment Research raised shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Royal Bank of Canada dropped their price objective on shares of Macquarie Infrastructure to $55.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Alembic Global Advisors reaffirmed a “sell” rating on shares of Macquarie Infrastructure in a report on Thursday, February 22nd. Finally, Wells Fargo reaffirmed a “market perform” rating on shares of Macquarie Infrastructure in a report on Friday, February 23rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.25.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. D.B. Root & Company LLC purchased a new stake in Macquarie Infrastructure during the fourth quarter worth $653,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Macquarie Infrastructure by 27.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,326 shares of the conglomerate’s stock worth $1,947,000 after buying an additional 6,524 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Macquarie Infrastructure during the fourth quarter worth $2,424,000. Sterling Capital Management LLC boosted its holdings in Macquarie Infrastructure by 78.2% during the fourth quarter. Sterling Capital Management LLC now owns 18,855 shares of the conglomerate’s stock worth $1,210,000 after buying an additional 8,275 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new stake in Macquarie Infrastructure during the fourth quarter worth $305,000. 76.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macquarie Infrastructure (NYSE MIC) opened at $38.55 on Friday. The company has a market cap of $3,260.00, a price-to-earnings ratio of 25.20 and a beta of 1.24. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.05. Macquarie Infrastructure has a twelve month low of $37.03 and a twelve month high of $81.74.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Wednesday, February 21st. The conglomerate reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). Macquarie Infrastructure had a return on equity of 4.83% and a net margin of 24.86%. The firm had revenue of $471.21 million for the quarter, compared to analysts’ expectations of $452.30 million. sell-side analysts predict that Macquarie Infrastructure will post 2.25 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Thursday, March 8th. Investors of record on Monday, March 5th were issued a dividend of $1.44 per share. The ex-dividend date of this dividend was Friday, March 2nd. This is an increase from Macquarie Infrastructure’s previous dividend of $1.11. Macquarie Infrastructure’s dividend payout ratio is 376.47%.
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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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