FTAI Infrastructure (NASDAQ:FIP) Trading Down 10% on Disappointing Earnings

Key Points

• FTAI Infrastructure shares fell 10% to a low of $6.60, with a significant drop in trading volume of 46% compared to the average session.
• Despite the decline, JMP Securities maintains a "market outperform" rating with a price target of $12.00 for FTAI Infrastructure shares.
• FTAI Infrastructure reported $0.89 EPS for the quarter, exceeding estimates, but its revenue of $96.16 million fell short of expectations of $107.84 million.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s stock price dropped 10% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.60 and last traded at $6.46. Approximately 715,981 shares changed hands during trading, a decline of 46% from the average daily volume of 1,323,091 shares. The stock had previously closed at $7.17.

The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.36). The firm had revenue of $122.29 million during the quarter, compared to analysts' expectations of $151.77 million. FTAI Infrastructure had a negative return on equity of 10.19% and a negative net margin of 20.85%.

FTAI Infrastructure Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JMP Securities reiterated a "market outperform" rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, April 22nd. Wall Street Zen lowered shares of FTAI Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of FTAI Infrastructure during the 2nd quarter worth approximately $41,000. Bessemer Group Inc. lifted its stake in FTAI Infrastructure by 14,492.8% in the second quarter. Bessemer Group Inc. now owns 10,069 shares of the company's stock valued at $62,000 after buying an additional 10,000 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in shares of FTAI Infrastructure in the second quarter worth $62,000. Teacher Retirement System of Texas bought a new stake in shares of FTAI Infrastructure in the first quarter worth $68,000. Finally, Freestone Grove Partners LP bought a new stake in shares of FTAI Infrastructure in the fourth quarter worth $128,000. Institutional investors and hedge funds own 87.43% of the company's stock.

FTAI Infrastructure Price Performance

The company has a debt-to-equity ratio of 7.90, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50-day simple moving average is $6.36 and its 200-day simple moving average is $5.57. The stock has a market capitalization of $557.73 million, a P/E ratio of -3.18 and a beta of 1.89.

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.