Corporacion America Airports (NYSE:CAAP) Shares Gap Down – Here’s Why

Shares of Corporacion America Airports S.A. (NYSE:CAAP) gapped down before the market opened on Friday. The stock had previously closed at $25.44, but opened at $24.30. Corporacion America Airports shares last traded at $24.5320, with a volume of 18,207 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CAAP shares. Wall Street Zen lowered shares of Corporacion America Airports from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Zacks Research lowered shares of Corporacion America Airports from a “hold” rating to a “strong sell” rating in a research report on Monday, September 21st. JPMorgan Chase & Co. lowered their price target on shares of Corporacion America Airports from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Corporacion America Airports in a research report on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.88.

Corporacion America Airports Trading Up 0.4%

The business has a 50 day moving average price of $24.60 and a 200 day moving average price of $25.20. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $4.03 billion, a P/E ratio of 13.69, a PEG ratio of 0.75 and a beta of 0.69.

Corporacion America Airports (NYSE:CAAP) last announced its quarterly earnings results on Tuesday, August 18th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.18). The firm had revenue of $534.04 million for the quarter, compared to the consensus estimate of $497.52 million. Corporacion America Airports had a return on equity of 16.69% and a net margin of 13.58%. Analysts anticipate that Corporacion America Airports S.A. will post 2.04 EPS for the current year.

Corporacion America Airports Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, August 31st. Corporacion America Airports’s dividend payout ratio (DPR) is currently 51.12%.

Institutional Trading of Corporacion America Airports

Hedge funds and other institutional investors have recently modified their holdings of the stock. LMG Wealth Partners LLC lifted its stake in shares of Corporacion America Airports by 0.4% during the 1st quarter. LMG Wealth Partners LLC now owns 103,239 shares of the company’s stock worth $2,611,000 after buying an additional 407 shares during the last quarter. State of Wyoming bought a new position in Corporacion America Airports in the 2nd quarter valued at about $72,000. Polen Capital Management LLC raised its position in Corporacion America Airports by 18.9% during the fourth quarter. Polen Capital Management LLC now owns 51,919 shares of the company’s stock valued at $1,350,000 after purchasing an additional 8,268 shares in the last quarter. Amundi bought a new stake in shares of Corporacion America Airports during the 2nd quarter worth $216,000. Finally, Invst LLC acquired a new stake in shares of Corporacion America Airports in the 2nd quarter valued at approximately $255,000. Institutional investors and hedge funds own 12.95% of the company’s stock.

About Corporacion America Airports

Corporación América Airports SA (NYSE: CAAP) is an airport operator and infrastructure company that develops, manages and operates airport concessions. Its activities include passenger and aircraft handling, airport maintenance, security coordination and the management of commercial services such as retail, food and beverage, parking and other passenger-related facilities.

The company has historically operated airports across several regions, including Argentina, Brazil, Ecuador, Uruguay, Armenia and Italy.