Grupo Aeroportuario del Pacífico (NYSE:PAC) Announces Quarterly Earnings Results, Misses Expectations By $0.42 EPS

Grupo Aeroportuario del Pacífico (NYSE:PAC) issued its earnings results on Monday. The transportation company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.42), reports. Grupo Aeroportuario del Pacífico had a return on equity of 42.92% and a net margin of 27.04%. The firm had revenue of $435.43 million during the quarter.

Grupo Aeroportuario del Pacífico Stock Performance

NYSE:PAC traded down $0.01 during mid-day trading on Thursday, hitting $171.50. 72,046 shares of the company’s stock traded hands, compared to its average volume of 94,674. The company has a market capitalization of $8.67 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.52 and a beta of 1.46. Grupo Aeroportuario del Pacífico has a twelve month low of $107.25 and a twelve month high of $197.31. The company has a fifty day moving average of $173.03 and a 200 day moving average of $170.15.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAC. The Goldman Sachs Group increased their price target on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. Bank of America raised shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a report on Wednesday, August 28th. Scotiabank downgraded Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $224.00 to $185.00 in a research note on Wednesday, September 25th. Finally, Citigroup raised Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Grupo Aeroportuario del Pacífico presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Institutional Trading of Grupo Aeroportuario del Pacífico

Several large investors have recently added to or reduced their stakes in PAC. Lazard Asset Management LLC increased its holdings in Grupo Aeroportuario del Pacífico by 141.5% in the first quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock valued at $78,526,000 after buying an additional 281,966 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Grupo Aeroportuario del Pacífico during the second quarter worth approximately $13,976,000. Northcape Capital Pty Ltd boosted its position in shares of Grupo Aeroportuario del Pacífico by 67.9% during the 1st quarter. Northcape Capital Pty Ltd now owns 162,439 shares of the transportation company’s stock worth $26,505,000 after acquiring an additional 65,681 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Grupo Aeroportuario del Pacífico during the 1st quarter worth $2,676,000. Finally, Quadrature Capital Ltd purchased a new position in Grupo Aeroportuario del Pacífico during the 1st quarter worth approximately $1,485,000. Hedge funds and other institutional investors own 11.73% of the company’s stock.

Grupo Aeroportuario del Pacífico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.