Macquarie Infrastructure Co. (MIC) Shares Gap Down to $80.99
Macquarie Infrastructure Co. (NYSE:MIC) shares gapped down prior to trading on Monday . The stock had previously closed at $80.78, but opened at $80.99. Macquarie Infrastructure shares last traded at $82.08, with a volume of 320,100 shares trading hands.
A number of research analysts have recently issued reports on MIC shares. TheStreet raised Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Macquarie Infrastructure in a research note on Thursday, June 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.33.
The firm has a 50-day moving average price of $79.09 and a 200-day moving average price of $71.25. The stock has a market cap of $6.69 billion and a price-to-earnings ratio of 77.36.
Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Monday, August 1st. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.20. The company earned $397.60 million during the quarter, compared to analyst estimates of $399.95 million. On average, analysts anticipate that Macquarie Infrastructure Co. will post $1.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Thursday, August 11th were paid a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 6.09%.
In related news, Director Norman H. Brown, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $80.17, for a total value of $320,680.00. Following the transaction, the director now owns 49,021 shares of the company’s stock, valued at $3,930,013.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
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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