Macquarie Infrastructure Co. (MIC) Stock Price Up 1.8%
Macquarie Infrastructure Co. (NYSE:MIC) rose 1.8% on Friday . The company traded as high as $76.69 and last traded at $76.64, with a volume of 233,626 shares traded. The stock had previously closed at $75.28.
MIC has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Macquarie Infrastructure from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 24th. Barclays PLC reiterated a “buy” rating on shares of Macquarie Infrastructure in a research note on Tuesday, April 12th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Macquarie Infrastructure in a research note on Saturday, May 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Macquarie Infrastructure has an average rating of “Buy” and a consensus price target of $91.25.
The stock has a market cap of $6.18 billion and a price-to-earnings ratio of 2198.29. The firm’s 50-day moving average price is $72.71 and its 200 day moving average price is $67.67.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.19. The business had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $434.44 million. On average, equities research analysts anticipate that Macquarie Infrastructure Co. will post $0.60 EPS for the current fiscal year.
A number of hedge funds and institutional investors have bought and sold shares of MIC. Advisors Asset Management Inc. raised its position in Macquarie Infrastructure by 62.6% in the fourth quarter. Advisors Asset Management Inc. now owns 108,181 shares of the company’s stock valued at $7,854,000 after buying an additional 41,632 shares during the period. Marshall Wace LLP purchased a new position in Macquarie Infrastructure during the fourth quarter valued at $7,524,000. Waterfront Capital Partners LLC boosted its position in Macquarie Infrastructure by 16.7% in the fourth quarter. Waterfront Capital Partners LLC now owns 227,569 shares of the company’s stock valued at $16,522,000 after buying an additional 32,569 shares in the last quarter. J. Goldman & Co LP bought a new position in Macquarie Infrastructure during the fourth quarter valued at approximately $4,682,000. Finally, Whittier Trust Co. boosted its position in Macquarie Infrastructure by 2,961.7% in the fourth quarter. Whittier Trust Co. now owns 18,370 shares of the company’s stock valued at $1,334,000 after buying an additional 17,770 shares in the last quarter.
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.
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