Analysis Of The Weekly Performance Of Macquarie Infrastructure Corporation (MIC)

Macquarie Infrastructure Corporation (NYSE:MIC) finished Thursday with an addition of $0.02 to close at $40.70, an upside of 0.05 percent. An average of 2,118,000 shares of common stock have been traded in the last five days. There was a gain of $0.14 in the past week. The last 20 days have seen an average of 3,932,545 shares traded, while the 50-day average volume stands at 2,100,026.

MIC stock has increased by 2.13% in the last month. The company shares reached their 1-month lowest point of $39.64 on 09/10/21. With the stock rallying to its 52-week high on 01/08/21, shares of the company touched a low of $17.81 and a high of $40.71 in 52 weeks. In spite of this, the price is down -0.01% from the 52-week high.

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Valuation Metrics

Macquarie Infrastructure Corporation (MIC) has a trailing price-to-earnings (P/E) ratio of 18.35 for the broader industry and 28.71 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Macquarie Infrastructure Corporation’s PE ratio has ranged between 57.02 and 6.339. The stock’s beta is 1.53. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.67, the price-to-book (PB) ratio at 3.90.

The company’s most recent quarterly dividend payment was $37.3868 a share, representing a up of 70.58 from $11.00 last year.

The quick ratio of Macquarie Infrastructure Corporation for the three months ended June 29 was 2.90, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.20 and a total debt to equity ratio of 1.21 For the recent quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 56.80% against a 5-year average of 39.9%. Macquarie Infrastructure Corporation’s EBITDA margin for the year ending June 29 is 14.64%, while its operating margin for the same period stands at 7.30%. Its gross profit as reported stood at $496.0 million compared to revenue of $847.0 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Macquarie Infrastructure Corporation’s return on assets was -22.90%, compared to -1.0% over the last five years. In the past year, the return on investment has been -4.80%, and the 5-year average is -0.8%. Meanwhile, the return on equity (ROE) for the past 12 months has been -80.10% and the 5-year average holds at -4.1%. For the broader industry, ROE averaged 13.58 over the past year.

Earnings Surprise

The analyst consensus anticipated Macquarie Infrastructure Corporation’s latest quarter earnings to come in at $0.12 per share, but it turned out to be $0.08, a -33.30% surprise. For the recent quarter, EBITDA amounted to $64.1 million. Shareholders own equity worth $87.85 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Macquarie Infrastructure Corporation (MIC) price momentum. RSI 9-day as of the close on 07 October was 77.12%, suggesting the stock is Overbought, with historical volatility in this time frame at 3.43%.

As of today, MIC’s price is $40.61 +0.35% or $0.14 from its 5-day moving average. MIC is currently trading +2.54% higher than its 20-day SMA and +15.76% higher than its 100-day SMA. However, the stock’s current price level is +3.72% above the SMA50 and +12.12% above the SMA200.

The stochastic %K and %D were 88.55% and 87.93%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 83.62% and the average true range at 0.24, the RSI (14) stands at 73.11%. The stock has reached 0.11 on the 9-day MACD Oscillator while the 14-day reading was at 0.22.

Analyst Ratings

Barclays upgraded Macquarie Infrastructure Corporation (NYSE: MIC) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as a an Underweight.The consensus rating for Macquarie Infrastructure Corporation (MIC) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MIC, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

What is MIC’s price target for the next 12 months?

Analysts predict a range of price targets between $43.00 and $43.00, with a median target of $43.00. Taking a look at these predictions, the average price target given by analysts for Macquarie Infrastructure Corporation (MIC) stock is $43.00.


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