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In the latest trading session, Banco Macro (BMA) closed at $29.79, marking a -1.65% move from the previous day. This change lagged the S&P 500's daily loss of 1.57%. Elsewhere, the Dow lost 1.57%, while the tech-heavy Nasdaq lost 1.89%.
Prior to today's trading, shares of the financial holding company had lost 19.76% over the past month. This has lagged the Finance sector's gain of 0.29% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from BMA as it approaches its next earnings release. In that report, analysts expect BMA to post earnings of $2.68 per share. This would mark year-over-year growth of 24.07%.
Investors should also note any recent changes to analyst estimates for BMA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 16.72% higher within the past month. BMA is currently a Zacks Rank #1 (Strong Buy).
Investors should also note BMA's current valuation metrics, including its Forward P/E ratio of 3.04. Its industry sports an average Forward P/E of 9.95, so we one might conclude that BMA is trading at a discount comparatively.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BMA in the coming trading sessions, be sure to utilize Zacks.com.
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Macro Bank Inc. (BMA) : Free Stock Analysis Report
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