Grupo Aeroportuario Del Pacifico (NYSE:PAC) Issues Quarterly Earnings Results

Key Points

• Grupo Aeroportuario Del Pacifico reported a quarterly earnings per share (EPS) of $2.86, falling short of the expected $2.96 by $0.10, with total revenue of $520.69 million.
• The company announced an increase in its semi-annual dividend to $4.4656, up from the previous $4.32, reflecting a dividend yield of 350.0%.
• Analysts have largely rated the stock as a "hold," with the average target price set at $210.00, while two analysts have a "buy" rating on the stock.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) posted its earnings results on Monday. The transportation company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.10), Zacks reports. The business had revenue of $520.69 million for the quarter, compared to analyst estimates of $11.04 billion. Grupo Aeroportuario Del Pacifico had a return on equity of 39.81% and a net margin of 24.28%.

Grupo Aeroportuario Del Pacifico Trading Up 1.5%

Shares of NYSE PAC traded up $3.20 during trading on Wednesday, reaching $212.95. The stock had a trading volume of 1,462 shares, compared to its average volume of 87,231. Grupo Aeroportuario Del Pacifico has a fifty-two week low of $163.76 and a fifty-two week high of $259.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50-day moving average price is $240.91 and its 200-day moving average price is $226.95. The company has a market cap of $10.76 billion, a P/E ratio of 22.23, a PEG ratio of 2.77 and a beta of 1.13.

Grupo Aeroportuario Del Pacifico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th were paid a $4.4656 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This is a boost from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. This represents a dividend yield of 350.0%. Grupo Aeroportuario Del Pacifico's payout ratio is presently 81.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen cut Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup reissued a "hold" rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Wednesday, September 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $210.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Grupo Aeroportuario Del Pacifico in the first quarter valued at $16,136,000. Bank of America Corp DE boosted its holdings in Grupo Aeroportuario Del Pacifico by 58.7% in the second quarter. Bank of America Corp DE now owns 57,837 shares of the transportation company's stock valued at $13,281,000 after purchasing an additional 21,399 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Grupo Aeroportuario Del Pacifico by 25.7% in the second quarter. Canada Pension Plan Investment Board now owns 47,486 shares of the transportation company's stock valued at $10,904,000 after purchasing an additional 9,700 shares during the period. BNP Paribas Financial Markets boosted its holdings in Grupo Aeroportuario Del Pacifico by 21.7% in the second quarter. BNP Paribas Financial Markets now owns 42,062 shares of the transportation company's stock valued at $9,658,000 after purchasing an additional 7,487 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Grupo Aeroportuario Del Pacifico by 65.8% in the first quarter. Goldman Sachs Group Inc. now owns 39,976 shares of the transportation company's stock valued at $7,416,000 after purchasing an additional 15,862 shares during the period. 11.73% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario Del Pacifico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.

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