FTAI Infrastructure (NASDAQ:FIP) Announces Quarterly Earnings Results

FTAI Infrastructure (NASDAQ:FIP) issued its quarterly earnings data on Thursday. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72), FiscalAI reports. The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $195.03 million.

FTAI Infrastructure Trading Up 6.9%

Shares of FIP traded up $0.19 during midday trading on Thursday, hitting $2.94. The stock had a trading volume of 2,598,016 shares, compared to its average volume of 1,529,015. FTAI Infrastructure has a 1 year low of $2.23 and a 1 year high of $6.69. The stock’s 50 day moving average is $2.89 and its 200 day moving average is $4.46.

Wall Street Analysts Forecast Growth

FIP has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. JonesTrading reissued a “buy” rating and set a $8.75 price objective on shares of FTAI Infrastructure in a research note on Monday, September 28th. BTIG Research reissued a “buy” rating and set a $9.00 price objective on shares of FTAI Infrastructure in a research note on Monday, September 28th. Jefferies Financial Group set a $10.00 price objective on FTAI Infrastructure in a research report on Tuesday, September 29th. Finally, Citizens Jmp assumed coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, FTAI Infrastructure presently has a consensus rating of “Moderate Buy” and an average target price of $9.95.

About FTAI Infrastructure

FTAI Infrastructure Inc is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers.

The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S.