Grupo Aeroportuario del Pacífico (NYSE:PAC) Downgraded by Scotiabank to “Sector Perform”

Scotiabank downgraded shares of Grupo Aeroportuario del Pacífico (NYSE:PAC) from a sector outperform rating to a sector perform rating in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $185.00 price objective on the transportation company’s stock, down from their prior price objective of $224.00.

Several other equities analysts have also commented on the stock. Citigroup upgraded shares of Grupo Aeroportuario del Pacífico to a strong-buy rating in a research report on Wednesday, August 28th. Bank of America upgraded shares of Grupo Aeroportuario del Pacífico from a neutral rating to a buy rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an underweight rating on shares of Grupo Aeroportuario del Pacífico in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group raised their target price on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the company a buy rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $195.00.

Grupo Aeroportuario del Pacífico Price Performance

Shares of NYSE:PAC opened at $177.69 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a fifty day moving average price of $167.08 and a 200 day moving average price of $167.92. Grupo Aeroportuario del Pacífico has a fifty-two week low of $107.25 and a fifty-two week high of $197.31. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.68 and a beta of 1.47.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last issued its earnings results on Monday, July 22nd. The transportation company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.46). Grupo Aeroportuario del Pacífico had a return on equity of 47.50% and a net margin of 29.26%. The company had revenue of $421.54 million for the quarter. As a group, sell-side analysts expect that Grupo Aeroportuario del Pacífico will post 9.88 earnings per share for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a $3.8657 dividend. The ex-dividend date was Monday, July 22nd. This represents a dividend yield of 4.7%. This is an increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. Grupo Aeroportuario del Pacífico’s payout ratio is presently 33.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAC. UMB Bank n.a. purchased a new stake in Grupo Aeroportuario del Pacífico during the 1st quarter worth approximately $32,000. Blue Trust Inc. lifted its stake in Grupo Aeroportuario del Pacífico by 163.0% during the 2nd quarter. Blue Trust Inc. now owns 284 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 176 shares during the period. Mather Group LLC. acquired a new stake in Grupo Aeroportuario del Pacífico during the 1st quarter valued at approximately $119,000. SG Americas Securities LLC acquired a new stake in Grupo Aeroportuario del Pacífico during the 2nd quarter valued at approximately $242,000. Finally, Sanders Morris Harris LLC acquired a new stake in Grupo Aeroportuario del Pacífico during the 1st quarter valued at approximately $261,000. Hedge funds and other institutional investors own 11.73% of the company’s stock.

Grupo Aeroportuario del Pacífico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.