Banco Macro SA Receives Neutral Rating from JPMorgan Chase & Co. (BMA)

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JPMorgan Chase & Co. restated their neutral rating on shares of Banco Macro SA (NYSE:BMA) in a report released on Wednesday. JPMorgan Chase & Co. currently has a $38.00 price objective on the stock, up from their previous price objective of $28.00.

JPMorgan Chase & Co. has also taken action a number of other financials stocks recently. The firm downgraded shares of Grupo Financiero Galicia S.A. to an underweight rating. Also, JPMorgan Chase & Co. reiterated its neutral rating on shares of Teva Pharmaceutical Industries Ltd (ADR). They have a $56.00 price target on that stock, up previously from $55.00.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Banco Macro SA from an outperform rating to a neutral rating in a research note on Tuesday, May 20th. They now have a $35.00 price target on the stock.

Banco Macro SA (NYSE:BMA) traded down 0.46% during mid-day trading on Wednesday, hitting $34.49. The stock had a trading volume of 74,448 shares. Banco Macro SA has a one year low of $13.63 and a one year high of $37.99. The stock’s 50-day moving average is $31.56 and its 200-day moving average is $26.61. The company has a market cap of $2.016 billion and a P/E ratio of 5.19.

Banco Macro SA (NYSE:BMA) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $2.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.68 by $0.85. On average, analysts predict that Banco Macro SA will post $6.32 earnings per share for the current fiscal year.

Banco Macro SA (NYSE:BMA) is an Argentina-based bank.

To view JPMorgan Chase & Co.’s full report, visit JPMorgan Chase & Co.’s official website.

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