Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Increases Dividend to $4.32 Per Share

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) declared a semi-annual dividend on Monday, May 19th, Wall Street Journal reports. Stockholders of record on Tuesday, May 27th will be given a dividend of 4.3222 per share by the transportation company on Monday, June 9th. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, May 27th. This is a 11.8% increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $3.87.

Grupo Aeroportuario del Pacífico has increased its dividend by an average of 0.4% per year over the last three years.

Grupo Aeroportuario del Pacífico Stock Up 2.9%

Shares of PAC traded up $6.44 during mid-day trading on Monday, reaching $228.91. The company’s stock had a trading volume of 83,407 shares, compared to its average volume of 73,020. Grupo Aeroportuario del Pacífico has a 12-month low of $146.62 and a 12-month high of $229.32. The stock has a market cap of $11.57 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.50 and a quick ratio of 1.50. The company’s 50 day moving average is $195.74 and its 200 day moving average is $189.78.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $2.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.41). The firm had revenue of $541.03 million for the quarter, compared to analysts’ expectations of $554.93 million. Grupo Aeroportuario del Pacífico had a return on equity of 43.75% and a net margin of 27.04%. Equities analysts anticipate that Grupo Aeroportuario del Pacífico will post 10 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PAC. Scotiabank upgraded Grupo Aeroportuario del Pacífico from a “sector perform” rating to a “sector outperform” rating in a research note on Monday. StockNews.com upgraded Grupo Aeroportuario del Pacífico from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. Barclays reiterated an “equal weight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Tuesday, January 21st. Bank of America downgraded Grupo Aeroportuario del Pacífico from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group upgraded Grupo Aeroportuario del Pacífico from an “underperform” rating to a “hold” rating and lifted their target price for the company from $140.00 to $210.00 in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.00.

Institutional Investors Weigh In On Grupo Aeroportuario del Pacífico

A hedge fund recently raised its stake in Grupo Aeroportuario del Pacífico stock. Goldman Sachs Group Inc. grew its position in shares of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) by 65.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,976 shares of the transportation company’s stock after purchasing an additional 15,862 shares during the period. Goldman Sachs Group Inc. owned 0.08% of Grupo Aeroportuario del Pacífico worth $7,416,000 at the end of the most recent quarter. Institutional investors own 11.73% of the company’s stock.

About Grupo Aeroportuario del Pacífico

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.