FTAI Infrastructure (NASDAQ:FIP) Releases Earnings Results

Key Points

• FTAI Infrastructure reported a quarterly loss of ($0.73) per share, falling short of the consensus estimate of ($0.37), and generated revenue of $122.29 million against an expectation of $151.77 million.
• The company announced a quarterly dividend of $0.03 per share, representing a 2.4% dividend yield, with a payout ratio currently at -9.09%.
• FTAI Infrastructure saw its stock price drop to $4.98 on Friday following the earnings announcement, with analysts mixed on the stock's prospects.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.36), Zacks reports. FTAI Infrastructure had a negative return on equity of 10.19% and a negative net margin of 20.85%. The firm had revenue of $122.29 million during the quarter, compared to the consensus estimate of $151.77 million.

FTAI Infrastructure Stock Down 3.1%

Shares of FIP traded down $0.15 during mid-day trading on Thursday, hitting $4.73. 2,195,846 shares of the company traded hands, compared to its average volume of 2,510,848. The company has a market capitalization of $542.81 million, a PE ratio of -3.09 and a beta of 1.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 7.90. The business has a 50 day moving average of $6.28 and a 200 day moving average of $5.55. FTAI Infrastructure has a 1-year low of $3.10 and a 1-year high of $9.99.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, August 25th. This represents a $0.12 annualized dividend and a dividend yield of 2.5%. FTAI Infrastructure's dividend payout ratio is -7.84%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen cut FTAI Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JMP Securities reaffirmed a "market outperform" rating and set a $12.00 target price on shares of FTAI Infrastructure in a research report on Tuesday, April 22nd.

Hedge Funds Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of FIP. Marshall Wace LLP raised its stake in FTAI Infrastructure by 422.3% in the 2nd quarter. Marshall Wace LLP now owns 529,502 shares of the company's stock worth $3,267,000 after acquiring an additional 428,116 shares during the last quarter. Invesco Ltd. raised its stake in FTAI Infrastructure by 198.6% in the 2nd quarter. Invesco Ltd. now owns 483,930 shares of the company's stock worth $2,986,000 after acquiring an additional 321,873 shares during the last quarter. Raymond James Financial Inc. raised its stake in FTAI Infrastructure by 34.6% in the 2nd quarter. Raymond James Financial Inc. now owns 271,269 shares of the company's stock worth $1,674,000 after acquiring an additional 69,790 shares during the last quarter. Rhumbline Advisers raised its stake in shares of FTAI Infrastructure by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 190,560 shares of the company's stock valued at $1,176,000 after buying an additional 40,206 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in shares of FTAI Infrastructure during the 2nd quarter valued at about $170,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

About FTAI Infrastructure

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.