Grupo Aeroportuario Del Pacifico (NYSE:PAC) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Grupo Aeroportuario Del Pacifico has been downgraded from a "buy" to a "hold" rating by Wall Street Zen amidst varied ratings from other analysts, with the consensus target price set at $200.00.
• The company reported earnings per share of $2.70 for the last quarter, falling short of the expected $2.75, and revenues totaled $584.36 million.
• Institutional investors have shown increased interest in the company, with CWM LLC raising its stake by 41.5% and several others acquiring new positions or increasing their holdings.

Wall Street Zen downgraded shares of Grupo Aeroportuario Del Pacifico (NYSE:PAC - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

PAC has been the topic of a number of other research reports. Scotiabank upgraded Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upgraded shares of Grupo Aeroportuario Del Pacifico from an "underweight" rating to a "neutral" rating in a research note on Friday, May 23rd. Finally, Bank of America lowered Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a research report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grupo Aeroportuario Del Pacifico presently has an average rating of "Hold" and an average price target of $200.00.

Grupo Aeroportuario Del Pacifico Stock Performance

Shares of PAC stock traded up $7.75 during trading hours on Friday, reaching $241.04. 36,828 shares of the company's stock were exchanged, compared to its average volume of 90,861. Grupo Aeroportuario Del Pacifico has a fifty-two week low of $148.87 and a fifty-two week high of $242.78. The stock has a market capitalization of $12.18 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.78 and a beta of 1.14. The business has a fifty day moving average price of $228.64 and a 200-day moving average price of $207.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.02.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last issued its earnings results on Monday, July 21st. The transportation company reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.75 by ($0.05). Grupo Aeroportuario Del Pacifico had a net margin of 24.28% and a return on equity of 39.81%. The firm had revenue of $584.36 million during the quarter, compared to analyst estimates of $10.86 billion. Analysts predict that Grupo Aeroportuario Del Pacifico will post 10 EPS for the current fiscal year.

Grupo Aeroportuario Del Pacifico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Investors of record on Wednesday, August 13th will be given a dividend of $4.4656 per share. This represents a dividend yield of 350.0%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. Grupo Aeroportuario Del Pacifico's dividend payout ratio is currently 40.25%.

Institutional Investors Weigh In On Grupo Aeroportuario Del Pacifico

Several institutional investors and hedge funds have recently made changes to their positions in PAC. Mission Wealth Management LP bought a new position in Grupo Aeroportuario Del Pacifico in the second quarter worth approximately $230,000. Hantz Financial Services Inc. lifted its holdings in shares of Grupo Aeroportuario Del Pacifico by 680.0% in the second quarter. Hantz Financial Services Inc. now owns 195 shares of the transportation company's stock valued at $45,000 after purchasing an additional 170 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Grupo Aeroportuario Del Pacifico in the second quarter valued at approximately $2,044,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Grupo Aeroportuario Del Pacifico by 10.3% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 8,257 shares of the transportation company's stock valued at $1,896,000 after purchasing an additional 770 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Grupo Aeroportuario Del Pacifico in the second quarter valued at approximately $455,000. Institutional investors own 11.73% of the company's stock.

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.