Shares of Banco Macro SA ADR (NYSE:BMA) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $58.00.
A number of research analysts recently issued reports on BMA shares. JPMorgan Chase & Co. raised their price target on Banco Macro from $57.00 to $61.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Scotiabank started coverage on Banco Macro in a research note on Wednesday, August 7th. They set an “underperform” rating and a $55.00 price target on the stock. Morgan Stanley downgraded Banco Macro from an “overweight” rating to an “underweight” rating in a research note on Monday, August 12th. HSBC downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th.
NYSE:BMA traded down $2.30 during mid-day trading on Friday, reaching $30.91. 987,138 shares of the stock were exchanged, compared to its average volume of 1,048,062. The company has a 50 day simple moving average of $61.47 and a 200-day simple moving average of $54.35. The stock has a market capitalization of $2.07 billion, a P/E ratio of 3.95 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 0.98 and a debt-to-equity ratio of 0.41. Banco Macro has a 1 year low of $30.81 and a 1 year high of $77.31.
About Banco Macro
Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.
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