Grupo Aeroportuario del Sureste (NYSE: ASR) disclosed its quarterly earnings results on March 15, 2024, reporting earnings per share (EPS) of $5.03. This figure fell short of analysts’ consensus estimates of $5.04 by $0.01, according to Zacks Investment Research. The company, which operates several airports in southeastern Mexico, recorded a return on equity of 20.67% and a net margin of 31.96%.
Following the earnings announcement, ASR’s stock declined by $4.89, closing at $358.77. During the trading session, 80,223 shares changed hands, surpassing the average volume of 57,645 shares. The stock has shown considerable volatility over the past year, with a low of $249.21 and a high of $381.52. Currently, ASR maintains a market capitalization of $10.76 billion, a price-to-earnings ratio of 19.02, and a beta of 0.56. Its liquidity ratios are strong, with a current ratio and quick ratio both standing at 2.69, and a debt-to-equity ratio of 0.47.
Analysts’ Perspectives and Stock Ratings
Several analysts have recently provided insights into ASR’s stock. Weiss Ratings reaffirmed a “hold” rating on March 21, while Scotiabank upgraded the stock from “sector perform” to “sector outperform” on December 4, 2023. In contrast, Zacks Research adjusted its rating from “strong sell” to “hold” on January 13, 2024. Additionally, JPMorgan Chase & Co. maintained a “neutral” stance on the stock as of November 14, 2023.
Notably, Morgan Stanley downgraded ASR from an “equal weight” rating to “underweight,” setting a price target of $300.00. Currently, the stock has received two buy ratings, three hold ratings, and one sell rating, resulting in an average rating of “hold” and a price target of $300.00, according to MarketBeat.com.
Institutional Investment Changes
Changes in institutional ownership reflect investor sentiment towards Grupo Aeroportuario del Sureste. Compound Planning Inc. increased its holdings by 4.3% in the fourth quarter, now holding 704 shares valued at $228,000. Laird Norton Wetherby Wealth Management LLC also raised its stake by 3.0% during the third quarter, owning 1,328 shares worth $429,000 after acquiring additional shares.
Osaic Holdings Inc. made a significant move, boosting its holdings by 38.2% in the second quarter, bringing its total to 181 shares valued at $58,000. Ieq Capital LLC and UBS AM, a unit of UBS Asset Management Americas LLC, also adjusted their positions in ASR, with institutional investors collectively holding 10.57% of the company’s stock.
Grupo Aeroportuario del Sureste is a prominent airport operator in Mexico, specializing in the development, operation, and management of airports under long-term concession agreements. The company operates passenger and cargo terminals while managing retail and service concessions. Its portfolio includes major airports in tourist destinations such as Cancún, Cozumel, and Huatulco, as well as regional airports in Mérida, Oaxaca, Veracruz, and Minatitlán.
