Macquarie Infrastructure Corporation (MIC): What Does Valuation Ratios Tell Us?

Macquarie Infrastructure Corporation (NYSE:MIC) saw a downside of -0.67% on Monday to $3.68 after subtracting -$0.03. The 5-day average trading volume is 10,005,951 shares of the company’s common stock. It has gained $40.85 in the past week. An average of 5,947,493 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,919,753.

MIC’s 1-month performance is 14.83% or -$36.04 on its low of $3.59 reached on 10/08/21. The company’s shares have touched a 52-week low of $1.45 and high of $3.71, with the stock’s rally to the 52-week high happening on 01/08/21. YTD, MIC has achieved 66.78% or -$33.87. However, the current price is down -0.67%% from the 52-week high price.

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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 28.81 for the sector. The company’s PE ratio for the last five years has touched a high of 57.02 and a low of 6.339. MIC stock has a beta of 1.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.67 while the price-to-book (PB) in the most recent quarter is 0.36.

Macquarie Infrastructure Corporation’s quick ratio for the period ended June 29 was 2.90, with the current ratio over the same period at 3.10 meaning that MIC stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.20, while the total debt to equity was 1.21. In terms of profitability, the gross margin trailing 12 months is 56.80%. The trailing 12-month EBITDA margin is 14.64% while for the period ending June 29; Macquarie Infrastructure Corporation’s operating margin was 7.30%. The firm’s gross profit as reported stood at $496.0 million against revenue of $847.0 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MIC to announce $0.12 per share in earnings in its latest quarter, but it posted $0.08, representing a -33.30% surprise. EBITDA for the quarter stood at more than $64.1 million. MIC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.75 billion, with total debt at $1.44 billion. Shareholders hold equity totaling $87.85 million

Technical Picture

Let’s look briefly at Macquarie Infrastructure Corporation (MIC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 1.21% to suggest the stock is trending oversold, with historical volatility in this time period at 1,174.82%.

The stock’s 5-day moving average is $25.87, reflecting a -90.92% or -$36.84 change from its current price. MIC is currently trading -90.78% above its 20-day SMA, -89.46% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -90.68% and -89.91% respectively.

Stochastic %K and %D was 28.06% and 58.94% and the average true range (ATR) pointed at 3.85. The RSI (14) points at 2.08%, while the 14-day stochastic is at 0.24% with the period’s ATR at 2.67. The stock’s 9-day MACD Oscillator is pointing at -16.37 and -19.20 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Macquarie Infrastructure Corporation (NYSE: MIC), Barclays upgraded it to an Equal weight rating. They previously had an Underweight rating on the stock. Analysts offering their rating for MIC stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate MIC as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $43.00 and a high of $43.00, with their median price target at $43.00. Looking at these predictions, the average price target given by analysts is for Macquarie Infrastructure Corporation (MIC) stock is $43.00.


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