Macquarie Infrastructure Corporation [NYSE: MIC] stock went on an upward path that rose over 0.98% on Friday, amounting to a one-week price decrease of less than -7.59%. The company report on October 30, 2020 that MIC to Host Conference Call / Webcast and Discussion of Third Quarter 2020 Financial Results Monday, November 9, 2020.
Macquarie Infrastructure Corporation (MIC) (NYSE: MIC) has scheduled a conference call and webcast for analysts and investors at 8:00 a.m. Eastern Time on Monday, November 9, 2020 during which management will discuss the Company’s financial results for the third quarter of 2020. MIC intends to publish a press release summarizing its financial results prior to the call.
Interested individuals are invited to access the conference call by dialing +1 650-521-5252 or +1 877-852-2928 at least 10 minutes prior to the scheduled start time. MIC will webcast the conference call live on its website at www.macquarie.com/mic.
Over the last 12 months, MIC stock dropped by -40.19%. The one-year Macquarie Infrastructure Corporation stock forecast points to a potential upside of 28.83. The average equity rating for MIC stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.22 billion, with 86.87 million shares outstanding and 86.78 million shares in the current float. Compared to the average trading volume of 721.12K shares, MIC stock reached a trading volume of 1302828 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Macquarie Infrastructure Corporation [MIC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MIC shares is $36.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MIC stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Macquarie Infrastructure Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 15, 2020. The new note on the price target was released on June 10, 2020, representing the official price target for Macquarie Infrastructure Corporation stock. Previously, the target price had yet another raise to $35, while Wells Fargo analysts kept a Equal Weight rating on MIC stock. On April 03, 2020, analysts decreased their price target for MIC shares from 34 to 26.
The Average True Range (ATR) for Macquarie Infrastructure Corporation is set at 0.85, with the Price to Sales ratio for MIC stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 10.14.
MIC Stock Performance Analysis:
Macquarie Infrastructure Corporation [MIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.59. With this latest performance, MIC shares dropped by -3.91% in over the last four-week period, additionally sinking by -9.73% over the last 6 months – not to mention a drop of -40.19% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MIC stock in for the last two-week period is set at 41.50, with the RSI for the last a single of trading hit 40.19, and the three-weeks RSI is set at 43.16 for Macquarie Infrastructure Corporation [MIC]. The present Moving Average for the last 50 days of trading for this stock 26.99, while it was recorded at 26.03 for the last single week of trading, and 30.35 for the last 200 days.
Insight into Macquarie Infrastructure Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Macquarie Infrastructure Corporation [MIC] shares currently have an operating margin of +17.31 and a Gross Margin at +38.51. Macquarie Infrastructure Corporation’s Net Margin is presently recorded at +5.85.
Return on Total Capital for MIC is now 5.01, given the latest momentum, and Return on Invested Capital for the company is 1.77. Return on Equity for this stock inclined to 3.50, with Return on Assets sitting at 1.39. When it comes to the capital structure of this company, Macquarie Infrastructure Corporation [MIC] has a Total Debt to Total Equity ratio set at 107.28. Additionally, MIC Total Debt to Total Capital is recorded at 51.76, with Total Debt to Total Assets ending up at 42.78. Long-Term Debt to Equity for the company is recorded at 106.14, with the Long-Term Debt to Total Capital now at 51.21.
Reflecting on the efficiency of the workforce at the company, Macquarie Infrastructure Corporation [MIC] managed to generate an average of $29,891 per employee. Receivables Turnover for the company is 17.97 with a Total Asset Turnover recorded at a value of 0.24.Macquarie Infrastructure Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.70.
MIC Stock EPS
With the latest financial reports released by the company, Macquarie Infrastructure Corporation posted 0.71/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 97.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MIC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Macquarie Infrastructure Corporation go to -4.50%.
Macquarie Infrastructure Corporation [MIC] Insider Position Details
There are presently around $1,772 million, or 79.10% of MIC stock, in the hands of institutional investors. The top three institutional holders of MIC stocks are: MACQUARIE GROUP LTD with ownership of 13,639,020, which is approximately 0.987% of the company’s market cap and around 0.20% of the total institutional ownership; EMINENCE CAPITAL, LP, holding 7,799,839 shares of the stock with an approximate value of $201.24 million in MIC stocks shares; and VANGUARD GROUP INC, currently with $169.9 million in MIC stock with ownership of nearly -7.313% of the company’s market capitalization.
Positions in Macquarie Infrastructure Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 89 institutional holders increased their position in Macquarie Infrastructure Corporation [NYSE:MIC] by around 13,894,889 shares. Additionally, 168 investors decreased positions by around 10,201,626 shares, while 53 investors held positions by with 44,578,889 shares. The mentioned changes placed institutional holdings at 68,675,404 shares, according to the latest SEC report filing. MIC stock had 38 new institutional investments in for a total of 5,215,223 shares, while 44 institutional investors sold positions of 2,135,722 shares during the same period.