FTAI Infrastructure (NASDAQ:FIP) Shares Gap Up - Still a Buy?

Key Points

• FTAI Infrastructure shares gapped up premarket, opening at $6.41 from a $5.67 close and last trading at $5.93 on volume of about 1.59 million shares.
• Analysts are mixed: MarketBeat shows a consensus Hold with an average target of $10, while Wall Street Zen and Weiss rate it sell and BTIG maintains a buy with a $10 price objective.
• The company reported a substantial earnings miss (EPS -$1.08 vs. -$0.43 expected) and revenue below estimates, with a high debt-to-equity ratio (~110) and negative margins/ROE; it still pays a small quarterly dividend of $0.03 (≈1.9% yield).

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $5.67, but opened at $6.41. FTAI Infrastructure shares last traded at $5.93, with a volume of 1,588,209 shares trading hands.

Analyst Ratings Changes

FIP has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of FTAI Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of FTAI Infrastructure in a research report on Thursday, January 22nd. Finally, BTIG Research reiterated a "buy" rating and issued a $10.00 price objective on shares of FTAI Infrastructure in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.00.

FTAI Infrastructure Price Performance

The company has a debt-to-equity ratio of 110.28, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50-day moving average of $5.48 and a 200-day moving average of $5.30. The firm has a market capitalization of $745.59 million, a price-to-earnings ratio of -2.74 and a beta of 1.90.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.65). FTAI Infrastructure had a negative net margin of 31.93% and a negative return on equity of 147.01%. The business had revenue of $143.52 million during the quarter, compared to analyst estimates of $169.16 million.

FTAI Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.12 dividend on an annualized basis and a yield of 1.9%. FTAI Infrastructure's dividend payout ratio is -5.22%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in FTAI Infrastructure by 2.8% during the 4th quarter. AQR Capital Management LLC now owns 70,436 shares of the company's stock worth $325,000 after acquiring an additional 1,920 shares during the last quarter. Merit Financial Group LLC boosted its position in FTAI Infrastructure by 21.3% during the 4th quarter. Merit Financial Group LLC now owns 15,858 shares of the company's stock worth $73,000 after acquiring an additional 2,787 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in FTAI Infrastructure by 9.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,171 shares of the company's stock worth $145,000 after acquiring an additional 2,979 shares during the last quarter. Rhumbline Advisers boosted its position in FTAI Infrastructure by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 194,180 shares of the company's stock worth $847,000 after acquiring an additional 3,620 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in FTAI Infrastructure by 9.7% during the 3rd quarter. Stephens Inc. AR now owns 50,910 shares of the company's stock worth $222,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

About FTAI Infrastructure

FTAI Infrastructure Ltd NASDAQ: FIP is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.

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