Cardinal Infrastructure Group (NASDAQ:CDNL) Issues Quarterly Earnings Results

Cardinal Infrastructure Group (NASDAQ:CDNL) posted its quarterly earnings results on Tuesday. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22), FiscalAI reports. The company had revenue of $226.93 million during the quarter.

Cardinal Infrastructure Group Trading Down 28.8%

NASDAQ:CDNL traded down $17.30 during trading hours on Tuesday, reaching $42.70. 1,455,615 shares of the company were exchanged, compared to its average volume of 484,236. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $1.83 billion and a price-to-earnings ratio of 187.93. The stock has a 50 day simple moving average of $70.49 and a 200 day simple moving average of $50.08. Cardinal Infrastructure Group has a 52-week low of $21.98 and a 52-week high of $96.40.

Analysts Set New Price Targets

CDNL has been the subject of several research reports. Oppenheimer upped their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Stifel Nicolaus upped their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.33.

Insider Activity

In related news, COO Benjamin Wood purchased 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Several institutional investors have recently made changes to their positions in CDNL. Taylor Frigon Capital Management LLC bought a new stake in Cardinal Infrastructure Group in the fourth quarter worth $1,209,000. Kornitzer Capital Management Inc. KS bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth about $850,000. TimesSquare Capital Management LLC acquired a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth approximately $14,612,000. Goldman Sachs Group Inc. bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth about $3,893,000. Finally, CenterBook Partners LP acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth about $1,994,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.