Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Upgraded by JPMorgan Chase & Co. to Neutral Rating

JPMorgan Chase & Co. upgraded shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) from an underweight rating to a neutral rating in a report released on Wednesday morning, MarketBeat reports.

OMAB has been the topic of several other research reports. Weiss Ratings downgraded shares of Grupo Aeroportuario del Centro Norte from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. HSBC raised shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “buy” rating and lifted their target price for the stock from $112.00 to $134.00 in a research note on Thursday, April 16th. Zacks Research raised Grupo Aeroportuario del Centro Norte from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Citigroup raised Grupo Aeroportuario del Centro Norte from a “neutral” rating to a “buy” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut Grupo Aeroportuario del Centro Norte from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Trading Up 1.1%

Grupo Aeroportuario del Centro Norte stock opened at $105.35 on Wednesday. The stock has a 50-day moving average price of $105.84 and a 200 day moving average price of $111.91. Grupo Aeroportuario del Centro Norte has a 52 week low of $95.69 and a 52 week high of $134.99. The stock has a market cap of $4.48 billion, a PE ratio of 17.62, a P/E/G ratio of 1.35 and a beta of 0.60. 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 (NASDAQ:OMAB) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.08). Grupo Aeroportuario del Centro Norte had a net margin of 32.67% and a return on equity of 49.46%. The firm had revenue of $213.33 million during the quarter, compared to analysts’ expectations of $199.73 million. Equities research analysts predict that Grupo Aeroportuario del Centro Norte will post 6.97 earnings per share for the current fiscal year.

Grupo Aeroportuario del Centro Norte Announces Dividend

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

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several hedge funds and other institutional investors have recently modified their holdings of the company. Triumph Capital Management acquired a new stake in Grupo Aeroportuario del Centro Norte during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its position in 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 valued at $39,000 after buying an additional 271 shares in the last quarter. Quantbot Technologies LP acquired a new position in Grupo Aeroportuario del Centro Norte during the second quarter valued at approximately $56,000. Atlas Capital Advisors Inc. purchased a new stake in Grupo Aeroportuario del Centro Norte during the fourth quarter worth approximately $61,000. Finally, Fifth Third Bancorp grew its stake in Grupo Aeroportuario del Centro Norte by 22.3% during the fourth quarter. Fifth Third Bancorp now owns 791 shares of the transportation company’s stock worth $86,000 after buying an additional 144 shares during the period. 9.53% of the stock is owned by institutional investors and hedge funds.

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.