Why You Need to Pay Attention to Banco Macro (BMA) Stock

Zacks

One company that should be on your radar is Banco Macro S.A. (BMA). The stock of this Banking company has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
 
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For BMA’s full year estimate, we have seen 2 estimates go higher in the past 30 days, compared to no lower. This trend has helped the consensus estimate to trend higher, going from $5.69 a share a month ago to its current level at $6.13.
 
This positive shift in estimates has made some investors take notice and buy the stock. In fact, BMA has seen some pretty solid trading lately, as the company has moved higher by 22.7% in the past month.
 
If Banco Macro can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put BMA on your watch list for the future.
 
Other top-ranked stocks worth considering in this space include ICICI Bank Ltd. (IBN), Westpac Banking Corporation (WBK), and Grupo Financiero Galicia S.A. (GGAL). All these carry a Zacks Rank #1 (Strong Buy).
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>



BANCO MACRO SA (BMA): Free Stock Analysis Report

ICICI BANK LTD (IBN): Free Stock Analysis Report

GRUPO FINAN GALICIA SA ADS (GGAL): Free Stock Analysis Report

WESTPAC BANKING CORP (WBK): Free Stock Analysis Report


Zacks Investment Research

Rates

View Comments (0)