Banco Macro S.A. ADR [NYSE: BMA] stock went on an upward path that rose over 1.48% on Friday, amounting to a one-week price increase of more than 4.39%. The company report on November 22, 2023 at 5:49 PM that Banco Macro Announces Results for the Third Quarter of 2023.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the third quarter ended September 30, 2023 (“3Q23”). All figures are in Argentine pesos (Ps.) and have been restated in terms of the measuring unit current at the end of the reporting period. For ease of comparison, figures of previous quarters of 2022 and 2023 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2023.
Over the last 12 months, BMA stock rose by 65.40%. The one-year Banco Macro S.A. ADR stock forecast points to a potential upside of 19.89. The average equity rating for BMA stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.99 billion, with 62.82 million shares outstanding and 62.81 million shares in the current float. Compared to the average trading volume of 441.34K shares, BMA stock reached a trading volume of 159074 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Banco Macro S.A. ADR [BMA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMA shares is $39.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMA stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Banco Macro S.A. ADR shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 31, 2022.
The Average True Range (ATR) for Banco Macro S.A. ADR is set at 1.52, with the Price to Sales ratio for BMA stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 0.70. Price to Free Cash Flow for BMA in the course of the last twelve months was 0.57.
BMA Stock Performance Analysis:
Banco Macro S.A. ADR [BMA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.39. With this latest performance, BMA shares gained by 13.22% in over the last four-week period, additionally plugging by 46.86% over the last 6 months – not to mention a rise of 65.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMA stock in for the last two-week period is set at 56.41, with the RSI for the last a single of trading hit 55.53, and the three-weeks RSI is set at 56.76 for Banco Macro S.A. ADR [BMA]. The present Moving Average for the last 50 days of trading for this stock 29.16, while it was recorded at 30.98 for the last single week of trading, and 24.00 for the last 200 days.
Insight into Banco Macro S.A. ADR Fundamentals:
Banco Macro S.A. ADR’s liquidity data is similarly interesting compelling, with a Current Ratio set at 6.24.
BMA Stock EPS
With the latest financial reports released by the company, Banco Macro S.A. ADR posted 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 126.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Banco Macro S.A. ADR go to 24.74%.
Banco Macro S.A. ADR [BMA] Institutonal Ownership Details
The top three institutional holders of BMA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BMA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BMA stock with ownership which is approximately 5.8325%.
