Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Stock Gets Downgrade from Citigroup

Key Points

• Citigroup downgraded Grupo Aeroportuario del Centro Norte from “buy” to “neutral.” Analysts’ overall consensus is “hold,” with an average price target of $134.
• In its latest quarter, the company reported EPS of $1.78, below the $1.83 consensus, while revenue of $268.96 million exceeded expectations of $255.11 million.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, Marketbeat reports.

Several other research firms have also issued reports on OMAB. Weiss Ratings reissued a "hold (c)" rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Monday, October 26th. JPMorgan Chase & Co. upgraded Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research note on Wednesday, July 22nd. Finally, Zacks Research cut Grupo Aeroportuario del Centro Norte from a "hold" rating to a "strong sell" rating in a report on Thursday, October 22nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Up 0.6%

Shares of NASDAQ:OMAB opened at $109.06 on Friday. The firm has a fifty day moving average price of $98.06 and a two-hundred day moving average price of $107.77. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.08 and a quick ratio of 1.08. Grupo Aeroportuario del Centro Norte has a one year low of $87.31 and a one year high of $134.99. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.14 and a beta of 0.61.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.83 by ($0.05). The firm had revenue of $268.96 million for the quarter, compared to analysts' expectations of $255.11 million. Grupo Aeroportuario del Centro Norte had a net margin of 31.69% and a return on equity of 49.38%. Analysts anticipate that Grupo Aeroportuario del Centro Norte will post 6.82 EPS for the current fiscal year.

Institutional Trading of Grupo Aeroportuario del Centro Norte

Institutional investors and hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its position in Grupo Aeroportuario del Centro Norte by 4.9% during the third quarter. Maryland State Retirement & Pension System now owns 43,016 shares of the transportation company's stock valued at $4,156,000 after purchasing an additional 2,017 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of Grupo Aeroportuario del Centro Norte in the 3rd quarter worth about $30,000. Ethic Inc. boosted its holdings in shares of Grupo Aeroportuario del Centro Norte by 38.7% in the 3rd quarter. Ethic Inc. now owns 3,363 shares of the transportation company's stock worth $325,000 after purchasing an additional 939 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Grupo Aeroportuario del Centro Norte in the 3rd quarter worth about $51,000. Finally, Sage Investment Counsel LLC increased its position in shares of Grupo Aeroportuario del Centro Norte by 4.3% during the 3rd quarter. Sage Investment Counsel LLC now owns 7,300 shares of the transportation company's stock valued at $705,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company's stock.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., operating under the OMA brand, is a Mexican airport infrastructure company. It develops, operates and maintains a portfolio of airports serving the central and northern regions of Mexico, including Monterrey International Airport and airports in destinations such as Acapulco, Chihuahua, Ciudad Juárez, Culiacán, Durango, Mazatlán, Reynosa, San Luis Potosí, Tampico, Torreón and Zacatecas.

OMA provides core airport services including passenger processing, aircraft landing and parking facilities, security-related infrastructure, baggage handling areas and cargo facilities.

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