Corporación América Airports (NYSE:CAAP) Shares Gap Down Following Weak Earnings

Corporación América Airports S.A. (NYSE:CAAP)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $19.28, but opened at $18.48. Corporación América Airports shares last traded at $18.63, with a volume of 41,982 shares changing hands.

The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.12). Corporación América Airports had a net margin of 20.78% and a return on equity of 28.13%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $373.00 million.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. started coverage on Corporación América Airports in a report on Friday, March 14th. They set an “overweight” rating and a $22.50 price target for the company.

Institutional Investors Weigh In On Corporación América Airports

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. increased its holdings in Corporación América Airports by 0.6% in the 3rd quarter. Citigroup Inc. now owns 1,050,579 shares of the company’s stock worth $18,343,000 after acquiring an additional 6,600 shares during the last quarter. State Street Corp boosted its position in Corporación América Airports by 6.8% during the 3rd quarter. State Street Corp now owns 266,233 shares of the company’s stock valued at $4,648,000 after buying an additional 16,838 shares during the period. Invst LLC grew its position in shares of Corporación América Airports by 28.2% in the 3rd quarter. Invst LLC now owns 43,124 shares of the company’s stock worth $753,000 after buying an additional 9,473 shares during the last quarter. abrdn plc increased its position in shares of Corporación América Airports by 8.7% during the fourth quarter. abrdn plc now owns 366,362 shares of the company’s stock valued at $6,880,000 after buying an additional 29,462 shares during the period. Finally, Verity Asset Management Inc. bought a new position in Corporación América Airports in the fourth quarter worth $245,000. 12.95% of the stock is owned by institutional investors.

Corporación América Airports Stock Performance

The stock has a market capitalization of $2.87 billion, a P/E ratio of 8.15 and a beta of 1.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.29. The business has a 50-day moving average price of $18.88 and a 200 day moving average price of $18.51.

Corporación América Airports Company Profile

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.