FTAI Infrastructure (NASDAQ:FIP) Shares Gap Down Following Weak Earnings

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price gapped down before the market opened 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 changing hands.

The company reported ($0.73) earnings per share (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 analyst estimates of $151.77 million. FTAI Infrastructure had a negative net margin of 20.85% and a negative return on equity of 10.19%.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.4%. FTAI Infrastructure’s dividend payout ratio is -9.09%.

Wall Street Analyst Weigh In

FIP has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of FTAI Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday. JMP Securities reissued a “market outperform” rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, April 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIP. Vanguard Group Inc. grew its position in FTAI Infrastructure by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after acquiring an additional 730,895 shares in the last quarter. Hood River Capital Management LLC grew its position in FTAI Infrastructure by 32.7% in the fourth quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock valued at $42,775,000 after acquiring an additional 1,452,567 shares in the last quarter. Capital International Investors grew its position in FTAI Infrastructure by 17.0% in the fourth quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock valued at $38,807,000 after acquiring an additional 778,376 shares in the last quarter. Long Focus Capital Management LLC grew its position in FTAI Infrastructure by 820.7% in the first quarter. Long Focus Capital Management LLC now owns 4,766,162 shares of the company’s stock valued at $21,591,000 after acquiring an additional 4,248,503 shares in the last quarter. Finally, American Assets Investment Management LLC grew its position in FTAI Infrastructure by 1,780.5% in the first quarter. American Assets Investment Management LLC now owns 3,584,490 shares of the company’s stock valued at $16,238,000 after acquiring an additional 3,393,879 shares in the last quarter. Hedge funds and other institutional investors 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 $6.38 and its 200-day simple moving average is $5.61. The company has a market cap of $571.50 million, a price-to-earnings ratio of -3.25 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.