HSBC Upgrades Grupo Aeroportuario del Sureste (NYSE:ASR) to Buy

Key Points

• HSBC upgraded Grupo Aeroportuario del Sureste to “Buy” from “Hold” and set a $349 price target, implying 28.47% upside from the prior close.
• Analyst sentiment remains mixed: ASR has an average “Hold” rating and a $324.50 consensus price target, despite a recent upgrade from UBS and a downgrade from JPMorgan.
• The company reported quarterly EPS of $4.38, below the $4.92 consensus estimate, while revenue of $547.46 million exceeded expectations of $517.35 million.

Grupo Aeroportuario del Sureste (NYSE:ASR - Get Free Report) was upgraded by stock analysts at HSBC from a "hold" rating to a "buy" rating in a report released on Thursday, Marketbeat reports. The brokerage presently has a $349.00 price objective on the transportation company's stock. HSBC's price objective indicates a potential upside of 28.47% from the company's previous close.

A number of other research firms have also commented on ASR. UBS Group upgraded Grupo Aeroportuario del Sureste from a "neutral" rating to a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Grupo Aeroportuario del Sureste in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. cut Grupo Aeroportuario del Sureste from a "neutral" rating to an "underweight" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Grupo Aeroportuario del Sureste presently has an average rating of "Hold" and an average price target of $324.50.

Grupo Aeroportuario del Sureste Price Performance

ASR stock opened at $271.67 on Thursday. The company has a market capitalization of $8.15 billion, a P/E ratio of 14.61, a PEG ratio of 1.71 and a beta of 0.46. The company has a fifty day moving average price of $292.24 and a 200-day moving average price of $320.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.39 and a current ratio of 3.39. Grupo Aeroportuario del Sureste has a 52-week low of $259.01 and a 52-week high of $381.52.

Grupo Aeroportuario del Sureste (NYSE:ASR - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $4.38 earnings per share for the quarter, missing analysts' consensus estimates of $4.92 by ($0.54). The company had revenue of $547.46 million during the quarter, compared to analyst estimates of $517.35 million. Grupo Aeroportuario del Sureste had a net margin of 26.07% and a return on equity of 21.85%. As a group, equities analysts expect that Grupo Aeroportuario del Sureste will post 20.43 EPS for the current year.

Institutional Investors Weigh In On Grupo Aeroportuario del Sureste

A number of hedge funds have recently added to or reduced their stakes in ASR. Empowered Funds LLC bought a new position in shares of Grupo Aeroportuario del Sureste during the 1st quarter worth approximately $7,687,000. Bank of America Corp DE increased its stake in shares of Grupo Aeroportuario del Sureste by 112.1% in the 1st quarter. Bank of America Corp DE now owns 6,025 shares of the transportation company's stock valued at $2,025,000 after acquiring an additional 3,184 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Grupo Aeroportuario del Sureste during the 1st quarter valued at $220,000. Quantinno Capital Management LP lifted its position in shares of Grupo Aeroportuario del Sureste by 111.2% during the 1st quarter. Quantinno Capital Management LP now owns 6,427 shares of the transportation company's stock valued at $2,161,000 after acquiring an additional 3,384 shares during the period. Finally, ABS Direct Equity Fund LLC boosted its stake in Grupo Aeroportuario del Sureste by 1.9% during the first quarter. ABS Direct Equity Fund LLC now owns 6,900 shares of the transportation company's stock worth $2,319,000 after acquiring an additional 130 shares in the last quarter. 10.57% of the stock is currently owned by institutional investors.

About Grupo Aeroportuario del Sureste

Grupo Aeroportuario del Sureste, SAB. de C.V. NYSE: ASR is a leading airport operator in Mexico specializing in the development, operation and management of airports under long-term concession agreements. The company’s core business activities include the operation of passenger and cargo terminals, the administration of retail and service concessions, the provision of parking and ground-support services, and the implementation of security and maintenance programs.

ASR holds concession rights for nine airports across southeastern Mexico, including premier tourism hubs such as Cancún, Cozumel and Huatulco, as well as regional facilities in Mérida, Oaxaca, Veracruz and Minatitlán.

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