FTAI Infrastructure (NASDAQ:FIP) Trading Down 11.2% Following Weak Earnings

FTAI Infrastructure Inc. (NASDAQ:FIP)’s stock price was down 11.2% on Monday following a weaker than expected earnings announcement. The company traded as low as $8.23 and last traded at $8.73. Approximately 29,963 shares changed hands during trading, a decline of 97% from the average daily volume of 1,105,683 shares. The stock had previously closed at $9.83.

The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). FTAI Infrastructure had a negative net margin of 49.44% and a negative return on equity of 37.21%. The company had revenue of $84.89 million for the quarter.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, August 12th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -6.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of FTAI Infrastructure in a report on Monday. BTIG Research increased their price target on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

Institutional Investors Weigh In On FTAI Infrastructure

A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in shares of FTAI Infrastructure during the fourth quarter valued at about $25,000. Quadrature Capital Ltd purchased a new position in shares of FTAI Infrastructure during the 4th quarter worth approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of FTAI Infrastructure in the 4th quarter worth approximately $41,000. Merit Financial Group LLC bought a new stake in shares of FTAI Infrastructure during the fourth quarter valued at approximately $48,000. Finally, Victory Capital Management Inc. grew its stake in FTAI Infrastructure by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after purchasing an additional 2,490 shares during the period. 87.43% of the stock is currently owned by institutional investors.

FTAI Infrastructure Stock Performance

The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95. The firm has a market cap of $921.35 million, a P/E ratio of -4.70 and a beta of 1.31. The business has a fifty day simple moving average of $8.92 and a 200-day simple moving average of $7.06.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.