Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Shares Gap Down - Here's Why

Key Points

• OMAB shares fell sharply at the open, dropping from a prior close of $107.49 to $102.97 and last trading near $102.66.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, producing an overall Hold consensus with a $134 price target.
• The company reported quarterly EPS of $1.74 on $255.27 million in revenue, with a 33.17% net margin and 49.50% return on equity; analysts expect full-year EPS of $6.93.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $107.49, but opened at $102.97. Grupo Aeroportuario del Centro Norte shares last traded at $102.6570, with a volume of 2,107 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a research note on Friday, May 8th. Weiss Ratings raised Grupo Aeroportuario del Centro Norte from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. raised Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a report on Wednesday, July 22nd. Wall Street Zen cut shares of Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Zacks Research upgraded shares of Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Trading Down 0.7%

The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $4.37 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The business's 50-day moving average price is $107.63 and its 200-day moving average price is $111.48.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The transportation company reported $1.74 earnings per share (EPS) for the quarter. Grupo Aeroportuario del Centro Norte had a return on equity of 49.50% and a net margin of 33.17%.The firm had revenue of $255.27 million for the quarter. As a group, analysts expect that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

A number of large investors have recently bought and sold shares of OMAB. Triumph Capital Management acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Grupo Aeroportuario del Centro Norte by 288.3% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company's stock valued at $39,000 after buying an additional 271 shares in the last quarter. Quantbot Technologies LP acquired a new position in Grupo Aeroportuario del Centro Norte during the second quarter worth $56,000. Atlas Capital Advisors Inc. purchased a new position in Grupo Aeroportuario del Centro Norte in the fourth quarter worth $61,000. Finally, Fifth Third Bancorp lifted its holdings in Grupo Aeroportuario del Centro Norte by 22.3% in the fourth quarter. Fifth Third Bancorp now owns 791 shares of the transportation company's stock valued at $86,000 after acquiring an additional 144 shares during the period. 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. (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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