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

Shares of Corporación América Airports S.A. (NYSE:CAAP) gapped down prior to trading on Wednesday following a dissappointing 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 (EPS) 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 firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $373.00 million.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CAAP. Citigroup Inc. lifted its position in Corporación América Airports by 0.6% in the third quarter. Citigroup Inc. now owns 1,050,579 shares of the company’s stock valued at $18,343,000 after buying an additional 6,600 shares during the last quarter. State Street Corp lifted its position in Corporación América Airports by 6.8% in the third 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 last quarter. Invst LLC lifted its position in shares of Corporación América Airports by 28.2% during the third quarter. Invst LLC now owns 43,124 shares of the company’s stock worth $753,000 after purchasing an additional 9,473 shares in the last quarter. abrdn plc lifted 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 worth $6,880,000 after purchasing an additional 29,462 shares in the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in shares of Corporación América Airports during the fourth quarter worth about $245,000. Institutional investors and hedge funds own 12.95% of the company’s stock.

Corporación América Airports Price Performance

The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 8.15 and a beta of 1.97. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $18.88 and its 200-day moving average price is $18.51.

About Corporación América Airports

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.