Shares are trading on heavy volume with 3.68 million shares changing hands, well above the stock's three month daily average of 251,145 shares.
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(JPM - Get Report), Macquarie, RBC Capital, SunTrust
(STI - Get Report) and Wells Fargo
(WFC - Get Report) will act as joint book running managers for the offering.
Underwriters have been granted a 30 day option to purchase up to an additional 1.5 million shares for the offering which is expected to close on July 15.
The company expects to use the funds it raises from the secondary offering to acquire the remainder of International-Matex Tank Terminals that it does not own.
- MACQUARIE INFRASTRUCT CO LLC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, MACQUARIE INFRASTRUCT CO LLC increased its bottom line by earning $0.60 versus $0.29 in the prior year. This year, the market expects an improvement in earnings ($1.26 versus $0.60).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Transportation Infrastructure industry. The net income increased by 246.9% when compared to the same quarter one year prior, rising from $5.87 million to $20.37 million.
- Despite its growing revenue, the company underperformed as compared with the industry average of 9.3%. Since the same quarter one year prior, revenues slightly increased by 4.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Net operating cash flow has significantly increased by 75.46% to $59.08 million when compared to the same quarter last year. In addition, MACQUARIE INFRASTRUCT CO LLC has also vastly surpassed the industry average cash flow growth rate of -3.60%.
- 41.53% is the gross profit margin for MACQUARIE INFRASTRUCT CO LLC which we consider to be strong. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, MIC's net profit margin of 7.37% significantly trails the industry average.
- You can view the full analysis from the report here: MIC Ratings Report