Share on StockTwits

Banco Macro SA (NYSE:BMA) reached a new 52-week high during mid-day trading on Wednesday , StockRatingsNetwork.com reports. The company traded as high as $51.96 and last traded at $45.37, with a volume of 536,895 shares changing hands. The stock had previously closed at $39.76.

A number of research firms have recently commented on BMA. Analysts at Standpoint Research downgraded shares of Banco Macro SA from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Separately, analysts at Zacks upgraded shares of Banco Macro SA from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 15th. They now have a $49.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Banco Macro SA in a research note on Wednesday, June 11th. They now have a $38.00 price target on the stock, up previously from $28.00.

The stock’s 50-day moving average is $38.95 and its 200-day moving average is $29.73. The company has a market cap of $2.627 billion and a P/E ratio of 5.99.

Banco Macro SA (NYSE:BMA) last announced its earnings results on Thursday, May 22nd. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.85. Analysts expect that Banco Macro SA will post $6.89 EPS for the current fiscal year.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.