Corporación América Airports (NYSE:CAAP) Shares Gap Down Following Weak Earnings

Corporación América Airports S.A. (NYSE:CAAP - Get Free Report) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $21.74, but opened at $20.45. Corporación América Airports shares last traded at $20.80, with a volume of 51,536 shares changing hands.

The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.26). Corporación América Airports had a return on equity of 28.13% and a net margin of 20.78%. The firm had revenue of $446.20 million for the quarter, compared to analyst estimates of $418.00 million.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America began coverage on shares of Corporación América Airports in a research report on Thursday. They issued a "buy" rating and a $24.70 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Corporación América Airports in a research note on Friday, March 14th. They issued an "overweight" rating and a $22.50 price objective on the stock. Finally, Itau BBA Securities started coverage on Corporación América Airports in a research note on Monday, April 28th. They set an "outperform" rating and a $20.40 target price for the company.

Institutional Investors Weigh In On Corporación América Airports

A number of hedge funds have recently made changes to their positions in CAAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Corporación América Airports by 9.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 933,660 shares of the company's stock valued at $17,086,000 after purchasing an additional 82,335 shares during the last quarter. Bosun Asset Management LLC increased its holdings in shares of Corporación América Airports by 95.7% during the first quarter. Bosun Asset Management LLC now owns 32,844 shares of the company's stock worth $601,000 after buying an additional 16,058 shares in the last quarter. State of Wyoming increased its holdings in shares of Corporación América Airports by 199.0% during the first quarter. State of Wyoming now owns 9,002 shares of the company's stock worth $165,000 after buying an additional 5,991 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Corporación América Airports in the 1st quarter valued at $50,000. Finally, Aberdeen Group plc boosted its holdings in shares of Corporación América Airports by 14.7% during the 1st quarter. Aberdeen Group plc now owns 420,300 shares of the company's stock valued at $7,691,000 after acquiring an additional 53,938 shares in the last quarter. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Corporación América Airports Price Performance

The firm has a market cap of $3.36 billion, a P/E ratio of 9.53 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $19.02 and a two-hundred day moving average of $19.04.

Corporación América Airports Company Profile

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.

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