Is Macquarie Infrastructure Corporation (MIC) stock a buy on October 8?
Macquarie Infrastructure Corporation (MIC) stock was gloomy in premarket today on October 8, 2021. MIC stock price saw a huge downtrend of 91.13% to drop at $3.61 a share at the time of this writing. The stock was green in the previous trade and went up by 0.05% at closing.
What is the ticker symbol for Macquarie Infrastructure?
Macquarie Infrastructure trades on the New York Stock Exchange (NYSE) under the ticker symbol "MIC." Who are Macquarie Infrastructure's major shareholders? Macquarie Infrastructure's stock is owned by a number of institutional and retail investors.
How does Macquarie Infrastructure make money?
Macquarie Infrastructure has a market capitalization of $314.87 million and generates $847 million in revenue each year. The conglomerate earns $-928 million in net income (profit) each year or $30.28 on an earnings per share basis.
What is Macquarie Infrastructure's mailing address?
Macquarie Infrastructure's mailing address is 125 WEST 55TH STREET, NEW YORK NY, 10019. The conglomerate can be reached via phone at (212) 231-1000, via email at [email protected], or via fax at 212-231-1828. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks.
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Will Macquarie Infrastructure stock go up?
The Wall Street analyst predicted that MACQUARIE INFRASTRUCTURE's share price could reach $41.00 by Jun 16, 2022. The average MACQUARIE INFRASTRUCTURE stock price prediction forecasts a potential upside of 976.12% from the current MIC share price of $3.81.
Is Macquarie Infrastructure a buy?
The Macquarie Infrastructure Company stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.
What happened to the stock MIC?
Macquarie Infrastructure (NYSE:MIC) has sold all its operating assets and is retiring debt. Net of all their obligations their asset value is zero, yet it will still exist as a vehicle through which investors can become exposed to future infrastructure investments.
Should I buy MIC stock?
Is MIC stock a buy right now? 1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Macquarie Infrastructure in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street analysts is that investors should "hold" Macquarie Infrastructure stock.
Does MIC still pay a dividend?
Macquarie Infrastructure (NYSE: MIC) does not pay a dividend.
Closing of Sale of Atlantic Aviation
MIC Announces Completion of Reorganization into Limited Liability Company
MIC stated that it has completed the sale of its Atlantic Aviation business to KKR for $4.475 billion on 23 rd September 2021. This includes $1.0 billion in assumed debt. On June 7, 2021, the Company announced that it has reached an agreement to sell Atlantic Aviation.
Dividend cuts rarely go over well with income investors
MIC reported on 22 September 2021 that a previously permitted corporate reorganization has been completed. Macquarie Infrastructure Corporation is now a subsidiary of MIC.
What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Shares of Macquarie Infrastructure Corp ( NYSE:MIC) came tumbling down on Thursday, falling 37.4% as of 12:34 p.m. EST. The fuel storage infrastructure specialist reported its fiscal Q4 2017 earnings results last night, and it appears to have missed estimates pretty badly.
Now what
That's the pro forma story, anyway. When calculated according to GAAP accounting standards, the numbers looked a bit prettier. Counting one-time, pre-tax items, GAAP profits for the quarter were $4.13, and $5.13 for the year -- roughly three times what Macquarie had earned in 2016.
What happened
Dividends in 2018, however, may be a bit softer. In order to conserve cash internally to use for "repurposing ...
So what
Macquarie Infrastructure (NYSE: MIC) stock is plummeting in Thursday-morning trading after the company reported Q4 earnings last night. Backing out one-time gains and losses, Macquarie said it earned $0.45 per share ( pro forma) last quarter, better than the $0.33 that Wall Street analysts had predicted.
Now what
It gets worse. Although Macquarie would probably prefer investors to focus on its pro forma results, the fact remains that when calculated according to GAAP accounting standards, Macquarie actually lost $3.8 million last quarter -- about $0.01 per share, versus the $4.19 per share profit that it earned in Q4 2017.
One of Macquarie's biggest businesses is simply holding oil in tanks until someone has a need for it -- but RBC says that business isn't going great
Adding to Macquarie's troubles, analysts at RBC Capital are panning the company's just-released fiscal 2019 guidance (and downgrading Macquarie's stock), saying guidance implies "further deterioration" in the company's International-Matex Tank Terminals business.
What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Macquarie Infrastructure ( NYSE:MIC) stock is plummeting in Thursday-morning trading after the company reported Q4 earnings last night. Backing out one-time gains and losses, Macquarie said it earned $0.45 per share ( pro forma) last quarter, better than the $0.33 that Wall Street analysts had predicted.
Now what
It gets worse. Although Macquarie would probably prefer investors to focus on its pro forma results, the fact remains that when calculated according to GAAP accounting standards, Macquarie actually lost $3.8 million last quarter -- about $0.01 per share, versus the $4.19 per share profit that it earned in Q4 2017.
MIC REPORTS FOURTH QUARTER AND FULL YEAR 2021 FINANCIAL AND OPERATIONAL RESULTS
Adding to Macquarie's troubles, analysts at RBC Capital are panning the company's just-released fiscal 2019 guidance (and downgrading Macquarie's stock), saying guidance implies "further deterioration" in the company's International-Matex Tank Terminals business.
What Kind Of Shareholders Hold The Majority In Macquarie Infrastructure Holdings, LLC's (NYSE:MIC) Shares?
Macquarie Infrastructure Holdings, LLC (NYSE: MIC) (the "Company") today announced its financial and operational results from continuing operations for the fourth quarter and full year 2021.
What is Stock Sentiment?
A look at the shareholders of Macquarie Infrastructure Holdings, LLC ( NYSE:MIC ) can tell us which group is most...
What's Happening With MIC Stock Today?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
More About Macquarie Infrastructure Holdings LLC
Macquarie Infrastructure Holdings LLC (MIC) stock is trading at $3.64 as of 10:04 AM on Friday, Oct 8, a rise of $0.33, or 9.86% from the previous closing price of $3.31. The stock has traded between $3.59 and $3.65 so far today. Volume today is more active than usual.
When will Macquarie Infrastructure release its earnings?
Macquarie Infrastructure Corp is a diversified business company. The company's operating segment includes Atlantic Aviation; MIC Hawaii and Corporate and Other. It generates maximum revenue from the Atlantic Aviation segment.
What is a hold rating on Macquarie?
Macquarie Infrastructure is scheduled to release its next quarterly earnings announcement on Tuesday, August 3rd 2021. View our earnings forecast for Macquarie Infrastructure.
What happened
A hold rating indicates that analysts believe investors should maintain any existing positions they have in MIC, but not buy additional shares or sell existing shares.
So what
Shares of Macquarie Infrastructure ( MIC 0.00% ) rose just shy of 12% at one point in the first hour of trading on Monday. The big news is that the investment company, which owns a diversified portfolio of infrastructure assets, announced the sale of one of its entities to KKR ( KKR 1.25% ).
Now what
Macquarie Infrastructure is selling its Atlantic Aviation Group to KKR for $4.475 billion in cash and assumed debt. Atlantic Aviation provides fuel and hangar services to private aircraft at 69 U.S. airports and is the larger of Macquarie Infrastructure's two main divisions.
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It would be an understatement to suggest that this is a material event. In fact, the price gain today doesn't do the news justice, since Macquarie is selling off its biggest business and following through on its intended goal of basically winding the company down.
