Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Hits New 12-Month High – Here’s Why

Shares of Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $106.90 and last traded at $106.04, with a volume of 49176 shares trading hands. The stock had previously closed at $103.70.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OMAB. The Goldman Sachs Group raised their target price on Grupo Aeroportuario del Centro Norte from $89.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Bank of America upgraded Grupo Aeroportuario del Centro Norte from an “underperform” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Grupo Aeroportuario del Centro Norte currently has an average rating of “Hold” and an average target price of $88.38.

Grupo Aeroportuario del Centro Norte Trading Down 1.0%

The business’s 50 day moving average is $92.45 and its two-hundred day moving average is $81.21. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $4.48 billion, a P/E ratio of 18.57 and a beta of 0.89.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. Grupo Aeroportuario del Centro Norte had a net margin of 35.31% and a return on equity of 51.74%. The business had revenue of $174.65 million for the quarter, compared to analysts’ expectations of $3.58 billion. Analysts expect that Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. will post 5.53 EPS for the current year.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 23rd were paid a dividend of $2.1363 per share. This represents a dividend yield of 4.1%. The ex-dividend date was Friday, May 23rd. Grupo Aeroportuario del Centro Norte’s dividend payout ratio is currently 39.03%.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

A number of hedge funds and other institutional investors have recently modified their holdings of OMAB. Arrowstreet Capital Limited Partnership grew its holdings in Grupo Aeroportuario del Centro Norte by 30.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 173,672 shares of the transportation company’s stock worth $11,921,000 after acquiring an additional 40,878 shares during the period. Tower Research Capital LLC TRC grew its holdings in Grupo Aeroportuario del Centro Norte by 3,581.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 405 shares of the transportation company’s stock worth $28,000 after acquiring an additional 394 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Grupo Aeroportuario del Centro Norte by 41.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 685 shares of the transportation company’s stock worth $48,000 after acquiring an additional 200 shares during the period. Millennium Management LLC grew its holdings in Grupo Aeroportuario del Centro Norte by 5.7% during the fourth quarter. Millennium Management LLC now owns 26,904 shares of the transportation company’s stock worth $1,847,000 after acquiring an additional 1,460 shares during the period. Finally, Invesco Ltd. grew its holdings in Grupo Aeroportuario del Centro Norte by 7.9% during the fourth quarter. Invesco Ltd. now owns 17,206 shares of the transportation company’s stock worth $1,181,000 after acquiring an additional 1,257 shares during the period. 9.53% of the stock is currently owned by institutional investors.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities.