Banco Macro SA ADR (NYSE:BMA) Given Consensus Rating of “Hold” by Analysts

Banco Macro SA ADR (NYSE:BMA) has been given an average rating of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $46.00.

BMA has been the topic of a number of research analyst reports. Itau BBA Securities restated an “underperform” rating on shares of Banco Macro in a research note on Monday, December 9th. ValuEngine upgraded Banco Macro from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Zacks Investment Research upgraded Banco Macro from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a research note on Friday, December 6th. Finally, Scotiabank lowered Banco Macro from a “sector perform” rating to a “sector underperform” rating in a research note on Friday.

Banco Macro stock traded up $0.15 during trading hours on Tuesday, reaching $33.05. The stock had a trading volume of 408,643 shares, compared to its average volume of 490,220. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 3.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.13 and a quick ratio of 0.98. The business’s 50 day moving average price is $32.46 and its 200-day moving average price is $37.17. Banco Macro has a 52 week low of $21.41 and a 52 week high of $77.31.

Banco Macro (NYSE:BMA) last announced its earnings results on Friday, November 8th. The bank reported $3.58 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $1.53. Banco Macro had a net margin of 24.72% and a return on equity of 44.95%. The business had revenue of $490.69 million during the quarter. On average, sell-side analysts forecast that Banco Macro will post 8.81 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of BMA. Parametric Portfolio Associates LLC boosted its position in Banco Macro by 31.8% in the second quarter. Parametric Portfolio Associates LLC now owns 32,055 shares of the bank’s stock valued at $2,335,000 after buying an additional 7,738 shares during the last quarter. Millennium Management LLC purchased a new stake in Banco Macro in the third quarter valued at approximately $1,773,000. Vanguard Group Inc. purchased a new stake in Banco Macro in the second quarter valued at approximately $16,075,000. Voloridge Investment Management LLC purchased a new stake in Banco Macro in the third quarter valued at approximately $1,901,000. Finally, Renaissance Technologies LLC purchased a new stake in Banco Macro in the second quarter valued at approximately $17,462,000. Institutional investors and hedge funds own 22.11% of the company’s stock.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.

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Analyst Recommendations for Banco Macro (NYSE:BMA)

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