Banco Macro SA Downgraded by Zacks to “Neutral” (BMA)
Banco Macro SA (NYSE:BMA) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday. They currently have a $43.50 price objective on the stock. Zacks‘s price target points to a potential upside of 22.92% from the company’s current price.
Shares of Banco Macro SA (NYSE:BMA) traded up 3.25% during mid-day trading on Monday, hitting $36.54. 75,894 shares of the company’s stock traded hands. Banco Macro SA has a 1-year low of $16.42 and a 1-year high of $51.96. The stock’s 50-day moving average is $40. and its 200-day moving average is $30.96. The company has a market cap of $2.136 billion and a price-to-earnings ratio of 4.97.
Banco Macro SA (NYSE:BMA) last released its earnings data on Friday, August 8th. The company reported $1.54 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.62 by $0.08. On average, analysts predict that Banco Macro SA will post $6.89 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. 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.
Banco Macro SA (NYSE:BMA) is an Argentina-based bank.
To view Zacks’ full report, visit Zacks’ official website.
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