Corporación América Airports (NYSE:CAAP) Shares Gap Down After Earnings Miss

Corporación América Airports S.A. (NYSE:CAAP) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $19.28, but opened at $18.48. Corporación América Airports shares last traded at $18.63, with a volume of 41,982 shares changing hands.

The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.12). Corporación América Airports had a return on equity of 28.13% and a net margin of 20.78%. The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $373.00 million.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. initiated coverage on Corporación América Airports in a report on Friday, March 14th. They issued an “overweight” rating and a $22.50 price objective on the stock.

Institutional Trading of Corporación América Airports

A number of hedge funds and other institutional investors have recently modified their holdings of CAAP. Citigroup Inc. boosted its stake in shares of Corporación América Airports by 0.6% in the third quarter. Citigroup Inc. now owns 1,050,579 shares of the company’s stock valued at $18,343,000 after purchasing an additional 6,600 shares during the period. State Street Corp boosted its holdings in shares of Corporación América Airports by 6.8% in the third quarter. State Street Corp now owns 266,233 shares of the company’s stock valued at $4,648,000 after acquiring an additional 16,838 shares during the period. abrdn plc grew its holdings in shares of Corporación América Airports by 8.7% during the fourth quarter. abrdn plc now owns 366,362 shares of the company’s stock worth $6,880,000 after buying an additional 29,462 shares during the last quarter. Stokes Family Office LLC lifted its holdings in Corporación América Airports by 1.8% in the fourth quarter. Stokes Family Office LLC now owns 279,535 shares of the company’s stock valued at $5,216,000 after acquiring an additional 5,000 shares during the period. Finally, LMG Wealth Partners LLC increased its holdings in Corporación América Airports by 7.9% in the fourth quarter. LMG Wealth Partners LLC now owns 91,491 shares of the company’s stock valued at $1,707,000 after buying an additional 6,670 shares in the last quarter. 12.95% of the stock is owned by institutional investors and hedge funds.

Corporación América Airports Stock Down 1.8 %

The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $18.88 and a 200-day moving average price of $18.51. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 8.15 and a beta of 1.97.

Corporación América Airports Company Profile

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.