Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Posts Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Grupo Aeroportuario del Centro Norte reported quarterly EPS of $1.74, beating analyst expectations of $1.69 by $0.05. The company posted a 32.67% net margin and 49.46% return on equity.
• The stock opened at $104.80, with a 52-week range of $95.69 to $134.99 and a market capitalization of approximately $4.46 billion. The company also declared a $2.9165-per-share dividend, representing an 85.12% payout ratio.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $134.00; two analysts rate the stock a Buy and three rate it a Hold.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) issued its quarterly earnings results on Tuesday. The transportation company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.69 by $0.05, Zacks reports. Grupo Aeroportuario del Centro Norte had a net margin of 32.67% and a return on equity of 49.46%.

Grupo Aeroportuario del Centro Norte Price Performance

NASDAQ:OMAB opened at $104.80 on Tuesday. Grupo Aeroportuario del Centro Norte has a 52 week low of $95.69 and a 52 week high of $134.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.12 and a current ratio of 1.12. The firm's 50-day simple moving average is $105.85 and its 200 day simple moving average is $111.79. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.34 and a beta of 0.60.

Grupo Aeroportuario del Centro Norte Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were given a dividend of $2.9165 per share. This represents a yield of 571.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Grupo Aeroportuario del Centro Norte's dividend payout ratio (DPR) is currently 85.12%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in Grupo Aeroportuario del Centro Norte by 13.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the transportation company's stock worth $123,000 after buying an additional 136 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Grupo Aeroportuario del Centro Norte by 1.6% during the 4th quarter. Vident Advisory LLC now owns 11,809 shares of the transportation company's stock valued at $1,285,000 after acquiring an additional 188 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Grupo Aeroportuario del Centro Norte by 288.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company's stock valued at $39,000 after acquiring an additional 271 shares during the period. Triumph Capital Management acquired a new stake in shares of Grupo Aeroportuario del Centro Norte during the 3rd quarter worth $30,000. Finally, Amundi raised its stake in Grupo Aeroportuario del Centro Norte by 34.6% in the second quarter. Amundi now owns 1,870 shares of the transportation company's stock valued at $203,000 after purchasing an additional 481 shares in the last quarter. 9.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OMAB shares. Weiss Ratings lowered Grupo Aeroportuario del Centro Norte from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 1st. Wall Street Zen downgraded Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. HSBC raised shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and raised their target price for the company from $112.00 to $134.00 in a research note on Thursday, April 16th. Zacks Research upgraded Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $134.00.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company's core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.

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