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

Shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) fell 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. 37,159 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 76,556 shares. The stock had previously closed at $130.77.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Wall Street Zen raised 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, Weiss Ratings reissued a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grupo Aeroportuario del Centro Norte has an average rating of “Hold” and an average target price of $106.00.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of Grupo Aeroportuario del Centro Norte during the first quarter worth $591,000. Ethic Inc. acquired a new position in Grupo Aeroportuario del Centro Norte in the 2nd quarter worth about $223,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Grupo Aeroportuario del Centro Norte by 10.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 17,920 shares of the transportation company’s stock worth $1,891,000 after purchasing an additional 1,670 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of Grupo Aeroportuario del Centro Norte during the 2nd quarter valued at about $258,000. Finally, Quaero Capital S.A. bought a new stake in shares of Grupo Aeroportuario del Centro Norte in the 2nd quarter valued at approximately $329,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario del Centro Norte Trading Down 0.4%

The company has a 50 day moving average of $117.12 and a 200 day moving average of $108.93. The firm has a market cap of $5.35 billion, a P/E ratio of 21.43, a PEG 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.