In the last trading session, 37.8 million shares of the Macquarie Infrastructure Corporation (NYSE:MIC) were traded, and its beta was 1.54. Most recently the company’s share price was $3.71, and it changed around $0.4 or 11.98% from the last close, which brings the market valuation of the company to $3.58B. MIC currently trades at a discount to its 52-week high of $3.32, offering almost 10.51% off that amount. The share price’s 52-week low was $1.45, which indicates that the current value has risen by an impressive 60.92% since then. We note from Macquarie Infrastructure Corporation’s average daily trading volume that its 10-day average is 8.08 million shares, with the 3-month average coming to 23.32 million.
Macquarie Infrastructure Corporation stock received a consensus recommendation rating of a Hold, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended MIC as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Macquarie Infrastructure Corporation is expected to report earnings per share of $0.14 for the current quarter.
Macquarie Infrastructure Corporation (NYSE:MIC) trade information
Instantly MIC has showed a green trend with a performance of 11.98% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 40.85 on Friday, 10/08/21 increased the stock’s daily price by 90.92%. The company’s shares are currently up 66.78% year-to-date, but still up 12.39% over the last five days. On the other hand, Macquarie Infrastructure Corporation (NYSE:MIC) is 14.83% up in the 30-day period. We can see from the shorts that 6.47 million shares have been sold at a short interest cover period of 2.84 day(s).
The consensus price target as assigned by Wall Street analysts is $43.00, which translates to bulls needing to increase their stock price by 91.37% from its current value. Analyst projections state that MIC is forecast to be at a low of $43.00 and a high of $43.00. In order for the stock price to hit the forecast high, the stock would need to plunge -1059.03% from its current level, while the stock would need to crash -1059.03% from its current level to reach the projected low.
Macquarie Infrastructure Corporation (MIC) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 255.60% in revenue this quarter, and will report an increase of 102.10% in the next quarter. The year-over-year growth rate is expected to be 18.90%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $245.2 million in revenue for the current quarter. 1 analysts expect Macquarie Infrastructure Corporation to make $266.1 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 21.00%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -11.20%. Macquarie Infrastructure Corporation earnings are expected to increase by -829.40% in 2021, but the outlook is negative -3.80% per year for the next five years.
Macquarie Infrastructure Corporation’s next quarterly earnings report is expected to be released around November 08 and November 12.
Macquarie Infrastructure Corporation (NYSE:MIC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.34% of Macquarie Infrastructure Corporation shares, and 90.31% of them are in the hands of institutional investors. The stock currently has a share float of 90.62%. Macquarie Infrastructure Corporation stock is held by 325 institutions, with Macquarie Group Limited being the largest institutional investor. By Mar 30, 2021, it held 16.10% of the shares, which is about 14.1 million shares worth $448.52 million.
Eminence Capital, LP, with 8.05% or 7.05 million shares worth $224.31 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and DFA U.S. Small Cap Value Series were the top two Mutual Funds as of Mar 30, 2021. The former held 2.12 million shares worth $67.48 million, making up 2.42% of all outstanding shares. On the other hand, DFA U.S. Small Cap Value Series held roughly 1.89 million shares worth around $63.06 million, which represents about 2.16% of the total shares outstanding.