FTAI Infrastructure (NASDAQ:FIP) Shares Gap Down After Earnings Miss

Key Points

• FTAI Infrastructure shares fell sharply after the company reported disappointing earnings, with an EPS of ($0.73) that missed estimates.
• Revenues for the quarter were significantly lower than expected, totaling $122.29 million compared to a forecast of $151.77 million.
• Institutional investors hold a significant majority of the company, with 87.43% of the stock owned by such entities.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s share price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $6.24, but opened at $5.84. FTAI Infrastructure shares last traded at $5.38, with a volume of 1,509,506 shares traded.

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

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given 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 (DPR) is currently -7.84%.

Wall Street Analysts Forecast Growth

FIP has been the subject of several research analyst reports. Wall Street Zen cut FTAI Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday. JMP Securities restated a "market outperform" rating and set a $12.00 price target on shares of FTAI Infrastructure in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On FTAI Infrastructure

Several institutional investors have recently added to or reduced their stakes in FIP. FNY Investment Advisers LLC purchased a new position in FTAI Infrastructure during the 2nd quarter valued at approximately $41,000. Acropolis Investment Management LLC bought a new stake in FTAI Infrastructure in the second quarter worth $62,000. Bessemer Group Inc. increased its position in FTAI Infrastructure by 14,492.8% during the second quarter. Bessemer Group Inc. now owns 10,069 shares of the company's stock valued at $62,000 after acquiring an additional 10,000 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of FTAI Infrastructure in the first quarter valued at $68,000. Finally, Prudential Financial Inc. bought a new stake in shares of FTAI Infrastructure in the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Stock Performance

The stock has a market capitalization of $545.11 million, a PE ratio of -3.10 and a beta of 1.89. The business's 50 day moving average is $6.36 and its 200 day moving average is $5.57. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 7.90.

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.