Banco Macro SA Given Neutral Rating at JPMorgan Chase & Co. (BMA)

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Banco Macro SA (NYSE:BMA)‘s stock had its “neutral” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They currently have a $38.00 price objective on the stock, up from their previous price objective of $28.00. JPMorgan Chase & Co.’s price objective suggests a potential upside of 1.39% from the company’s current price.

Shares of Banco Macro SA (NYSE:BMA) traded down 4.56% during mid-day trading on Wednesday, hitting $35.77. The stock had a trading volume of 162,521 shares. Banco Macro SA has a 52 week low of $13.63 and a 52 week high of $37.80. The stock has a 50-day moving average of $31.47 and a 200-day moving average of $26.55. The company has a market cap of $2.091 billion and a price-to-earnings ratio of 5.61.

Banco Macro SA (NYSE:BMA) last announced its earnings results on Thursday, May 22nd. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.85. Analysts expect that Banco Macro SA will post $6.32 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Banco Macro SA from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. They now have a $35.00 price target on the stock.

Banco Macro SA (NYSE:BMA) is an Argentina-based bank.

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