Banco Macro SA Stock Rating Lowered by Zacks (BMA)

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Zacks lowered shares of Banco Macro SA (NYSE:BMA) from an outperform rating to a neutral rating in a report released on Tuesday. Zacks currently has $35.00 price objective on the stock.

Zacks has also updated their ratings on a number of other financials stocks in the last week. The firm downgraded shares of Grupo Financiero Galicia S.A. from an outperform rating to a neutral rating. Their analysts now have a $14.90 price target on that stock. Also, Zacks downgraded shares of Ultrapetrol Bahamas Ltd from a neutral rating to an underperform rating. Their analysts now have a $2.60 price target on that stock. Finally, Zacks upgraded shares of Net 1 Ueps Technolog from a neutral rating to an outperform rating. Zacks now has a $11.00 price target on that stock.

Shares of Banco Macro SA (NYSE:BMA) traded up 0.80% on Tuesday, hitting $30.25. The stock had a trading volume of 7,177 shares. Banco Macro SA has a one year low of $13.63 and a one year high of $32.85. The stock has a 50-day moving average of $30.81 and a 200-day moving average of $25.92. The company has a market cap of $1.768 billion and a P/E ratio of 4.46. Banco Macro SA also was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 178,811 shares, a decline of 65.4% from the April 15th total of 517,222 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 144,538 shares, the short-interest ratio is currently 1.2 days.

Banco Macro SA (NYSE:BMA) last announced its earnings results on Friday, May 9th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.35. On average, analysts predict that Banco Macro SA will post $6.32 earnings per share for the current fiscal year.

Banco Macro SA (NYSE:BMA) is an Argentina-based bank.

To view Zacks’ full report, visit Zacks’ official website.

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