Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) posted its quarterly earnings results on Tuesday. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.05, Zacks reports. Grupo Aeroportuario del Centro Norte had a net margin of 32.67% and a return on equity of 49.46%.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of OMAB stock opened at $104.80 on Tuesday. The business’s 50-day moving average price is $105.85 and its 200-day moving average price is $111.79. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.81. Grupo Aeroportuario del Centro Norte has a 12 month low of $95.69 and a 12 month high of $134.99. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.34 and a beta of 0.60.

Grupo Aeroportuario del Centro Norte Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 26th were paid a dividend of $2.9165 per share. This represents a dividend yield of 571.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Grupo Aeroportuario del Centro Norte’s dividend payout ratio (DPR) is presently 85.12%.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMAB. Triumph Capital Management bought a new position in shares of Grupo Aeroportuario del Centro Norte during the third quarter valued at $30,000. EverSource Wealth Advisors LLC raised its position in shares of Grupo Aeroportuario del Centro Norte by 288.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company’s stock worth $39,000 after acquiring an additional 271 shares in the last quarter. Quantbot Technologies LP bought a new stake in Grupo Aeroportuario del Centro Norte in the second quarter worth approximately $56,000. Atlas Capital Advisors Inc. bought a new stake in shares of Grupo Aeroportuario del Centro Norte in the 4th quarter valued at $61,000. Finally, PNC Financial Services Group Inc. increased its stake in Grupo Aeroportuario del Centro Norte by 13.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the transportation company’s stock valued at $123,000 after purchasing an additional 136 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings cut Grupo Aeroportuario del Centro Norte from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. Zacks Research upgraded Grupo Aeroportuario del Centro Norte from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised Grupo Aeroportuario del Centro Norte from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Grupo Aeroportuario del Centro Norte from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, HSBC raised Grupo Aeroportuario del Centro Norte from a “hold” rating to a “buy” rating and raised their price objective for the company from $112.00 to $134.00 in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Grupo Aeroportuario del Centro Norte has a consensus rating of “Hold” and an average price target of $134.00.

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.