Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Shares Gap Down – Here’s Why

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB)’s share price gapped down before the market opened on Friday . The stock had previously closed at $65.85, but opened at $63.13. Grupo Aeroportuario del Centro Norte shares last traded at $64.77, with a volume of 6,665 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on OMAB shares. Scotiabank raised shares of Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a report on Wednesday, September 25th. Morgan Stanley upgraded shares of Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $82.00 to $77.00 in a research report on Friday, September 6th. Finally, Bank of America cut Grupo Aeroportuario del Centro Norte from a “buy” rating to an “underperform” rating and set a $71.50 target price on the stock. in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Grupo Aeroportuario del Centro Norte presently has a consensus rating of “Hold” and an average target price of $80.83.

Grupo Aeroportuario del Centro Norte Price Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average price is $68.08 and its 200-day moving average price is $70.60. The firm has a market cap of $2.68 billion, a PE ratio of 11.13, a P/E/G ratio of 3.99 and a beta of 1.31.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The business also recently announced a Thrice Yearly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a $1.921 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a yield of 6.5%. Grupo Aeroportuario del Centro Norte’s dividend payout ratio (DPR) is presently 101.59%.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in Grupo Aeroportuario del Centro Norte by 6.6% during the third quarter. State Street Corp now owns 316,425 shares of the transportation company’s stock worth $21,460,000 after purchasing an additional 19,683 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the 2nd quarter worth $11,318,000. National Bank of Canada FI raised its stake in shares of Grupo Aeroportuario del Centro Norte by 130,579.6% during the 3rd quarter. National Bank of Canada FI now owns 121,532 shares of the transportation company’s stock worth $8,242,000 after buying an additional 121,439 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Grupo Aeroportuario del Centro Norte by 0.7% in the 1st quarter. Russell Investments Group Ltd. now owns 117,193 shares of the transportation company’s stock worth $9,269,000 after buying an additional 871 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Grupo Aeroportuario del Centro Norte by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 72,083 shares of the transportation company’s stock valued at $4,876,000 after acquiring an additional 4,149 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities.