JPMorgan Chase & Co. Reiterates “Neutral” Rating for Banco Macro SA (BMA)
Banco Macro SA (NYSE:BMA)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $38.00 target price on the stock, up from their previous target price of $28.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 1.39% from the company’s current price.
Banco Macro SA (NYSE:BMA) traded down 4.56% on Wednesday, hitting $35.77. 162,521 shares of the company’s stock traded hands. Banco Macro SA has a one year low of $13.63 and a one year high of $37.80. The stock’s 50-day moving average is $31.47 and its 200-day moving average is $26.55. The company has a market cap of $2.091 billion and a P/E ratio of 5.61.
Banco Macro SA (NYSE:BMA) last released its earnings data on Thursday, May 22nd. The company reported $2.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.68 by $0.85. On average, analysts predict that Banco Macro SA will post $6.32 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Banco Macro SA from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. They now have a $35.00 price target on the stock.
Banco Macro SA (NYSE:BMA) is an Argentina-based bank.
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