Banco Macro (NYSE:BMA) Announces Quarterly Earnings Results, Misses Estimates By $5.50 EPS

Banco Macro (NYSE:BMA) posted its quarterly earnings results on Thursday. The bank reported ($4.01) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50), Zacks reports. Banco Macro had a return on equity of 37.91% and a net margin of 16.33%. The company had revenue of $1.03 billion during the quarter. During the same period last year, the firm earned $2.69 EPS.

Banco Macro Price Performance

Shares of NYSE BMA opened at $53.55 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 0.77. The firm’s 50-day simple moving average is $54.67 and its 200 day simple moving average is $51.57. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 3.16 and a beta of 1.91. Banco Macro has a fifty-two week low of $17.30 and a fifty-two week high of $68.24.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a $1.798 dividend. This represents a $21.58 dividend on an annualized basis and a dividend yield of 40.29%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date of this dividend was Friday, August 16th. Banco Macro’s dividend payout ratio (DPR) is 127.41%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMA. Bank of America upgraded Banco Macro from an “underperform” rating to a “neutral” rating and raised their target price for the company from $53.00 to $62.00 in a research note on Thursday, August 8th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking 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.