Macquarie Infrastructure Co. (MIC) Shares Gap Up to $80.99
Macquarie Infrastructure Co. (NYSE:MIC) shares gapped up before the market opened on Friday . The stock had previously closed at $80.78, but opened at $80.99. Macquarie Infrastructure shares last traded at $81.62, with a volume of 112,753 shares traded.
Several research analysts recently commented on MIC shares. TheStreet upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Macquarie Infrastructure in a report on Thursday, June 2nd. One investment 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 an average rating of “Buy” and a consensus target price of $88.33.
The stock has a market cap of $6.69 billion and a PE ratio of 77.36. The stock has a 50 day moving average of $79.09 and a 200-day moving average of $71.25.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.20. The business had revenue of $397.60 million for the quarter, compared to analysts’ expectations of $399.95 million. On average, equities research analysts anticipate that Macquarie Infrastructure Co. will post $1.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Shareholders of record on Thursday, August 11th were issued a dividend of $1.25 per share. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $5.00 annualized dividend and a yield of 6.09%.
In other news, Director Norman H. Brown, Jr. sold 4,000 shares of Macquarie Infrastructure stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $80.17, for a total value of $320,680.00. Following the completion of the sale, the director now owns 49,021 shares in the company, valued at approximately $3,930,013.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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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