Macquarie Infrastructure Corp (NYSE:MIC) reached a new 52-week low on Wednesday . The stock traded as low as $71.83 and last traded at $71.94, with a volume of 525,075 shares trading hands. The stock had previously closed at $72.76.

Several research firms recently weighed in on MIC. BidaskClub lowered Macquarie Infrastructure Corp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research downgraded Macquarie Infrastructure Corp from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Barclays PLC downgraded Macquarie Infrastructure Corp from an “overweight” rating to a “hold” rating and dropped their target price for the stock from $89.00 to $83.00 in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $88.75.

The company has a market cap of $5.95 billion, a price-to-earnings ratio of 34.60 and a beta of 0.92. The company has a 50 day moving average of $76.37 and a 200-day moving average of $78.02.

Macquarie Infrastructure Corp (NYSE:MIC) last announced its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.26. The company had revenue of $438.99 million for the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure Corp had a net margin of 5.93% and a return on equity of 3.63%. On average, analysts anticipate that Macquarie Infrastructure Corp will post $1.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Thursday, August 10th. This is a boost from Macquarie Infrastructure Corp’s previous quarterly dividend of $1.32. Macquarie Infrastructure Corp’s dividend payout ratio (DPR) is 255.56%.

A number of hedge funds have recently made changes to their positions in MIC. Commonwealth Financial Services LLC bought a new stake in shares of Macquarie Infrastructure Corp during the first quarter valued at about $119,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Macquarie Infrastructure Corp during the first quarter valued at about $121,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Macquarie Infrastructure Corp by 244.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,997 shares of the conglomerate’s stock valued at $161,000 after buying an additional 1,418 shares during the period. Ffcm LLC boosted its stake in shares of Macquarie Infrastructure Corp by 122.1% in the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after buying an additional 1,105 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Macquarie Infrastructure Corp by 412.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock valued at $165,000 after buying an additional 1,650 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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Macquarie Infrastructure Corp 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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