Corporacion America Airports (NYSE:CAAP) Posts Earnings Results, Misses Expectations By $0.17 EPS

Corporacion America Airports (NYSE:CAAP) issued its quarterly earnings data on Wednesday. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17), Zacks reports. Corporacion America Airports had a return on equity of 9.13% and a net margin of 7.53%.The company had revenue of $476.80 million for the quarter, compared to analysts’ expectations of $423.15 million.

Corporacion America Airports Trading Up 6.8%

Shares of NYSE:CAAP opened at $22.23 on Friday. Corporacion America Airports has a 52-week low of $14.00 and a 52-week high of $22.85. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 0.69 and a beta of 1.37. The company has a quick ratio of 1.37, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $20.27 and a 200-day moving average price of $19.54.

Institutional Trading of Corporacion America Airports

Several hedge funds and other institutional investors have recently bought and sold shares of CAAP. Qube Research & Technologies Ltd grew its holdings in Corporacion America Airports by 328.8% during the second quarter. Qube Research & Technologies Ltd now owns 65,051 shares of the company’s stock worth $1,318,000 after acquiring an additional 49,882 shares during the period. BNP Paribas Financial Markets grew its holdings in Corporacion America Airports by 200.4% during the second quarter. BNP Paribas Financial Markets now owns 63,977 shares of the company’s stock worth $1,296,000 after acquiring an additional 42,681 shares during the period. Canada Pension Plan Investment Board grew its holdings in Corporacion America Airports by 49.5% during the second quarter. Canada Pension Plan Investment Board now owns 63,613 shares of the company’s stock worth $1,289,000 after acquiring an additional 21,052 shares during the period. PDT Partners LLC grew its holdings in Corporacion America Airports by 63.8% in the second quarter. PDT Partners LLC now owns 48,704 shares of the company’s stock valued at $987,000 after purchasing an additional 18,972 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Corporacion America Airports in the second quarter valued at approximately $295,000. 12.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CAAP. JPMorgan Chase & Co. increased their price target on Corporacion America Airports from $22.50 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. Bank of America began coverage on Corporacion America Airports in a research note on Thursday, May 22nd. They issued a “buy” rating and a $24.70 price target for the company. Finally, Itau BBA Securities began coverage on Corporacion America Airports in a research note on Monday, April 28th. They issued an “outperform” rating and a $20.40 price target for the company. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Corporacion America Airports has a consensus rating of “Buy” and an average price target of $23.03.

About Corporacion America Airports

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.