Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Shares Down 9.1% Following Weak Earnings

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB)’s stock price was down 9.1% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $117.93 and last traded at $118.8050. Approximately 37,159 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 76,556 shares. The stock had previously closed at $130.77.

The transportation company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.25). Grupo Aeroportuario del Centro Norte had a net margin of 33.46% and a return on equity of 54.36%. The company had revenue of $239.14 million during the quarter, compared to the consensus estimate of $241.63 million.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OMAB. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a research report on Friday, January 9th. Wall Street Zen upgraded shares of Grupo Aeroportuario del Centro Norte from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 15th. Finally, Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.00.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors and hedge funds have recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Grupo Aeroportuario del Centro Norte during the 3rd quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 288.3% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company’s stock worth $39,000 after buying an additional 271 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth approximately $42,000. Blue Trust Inc. raised its stake in shares of Grupo Aeroportuario del Centro Norte by 34.5% in the third quarter. Blue Trust Inc. now owns 491 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 126 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Grupo Aeroportuario del Centro Norte in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Grupo Aeroportuario del Centro Norte Stock Performance

The stock has a 50-day moving average of $117.12 and a 200 day moving average of $108.93. The firm has a market capitalization of $5.35 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.49 and a beta of 0.74. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.14 and a current ratio of 1.14.

Grupo Aeroportuario del Centro Norte Company Profile

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.