Grupo Aeroportuario del Sureste, S.A. de C.V. (NYSE:ASR) has recently been rated as “Reduce” by financial analysts, reflecting a cautious outlook on the company’s stock performance. As reported by Marketbeat.com, among the seven analysts covering the stock, two have issued sell ratings, four have assigned hold ratings, and one has given a buy rating. The average price target over the next twelve months is set at $305.00.
Analysts have expressed varied perspectives on Grupo Aeroportuario del Sureste. On September 10, 2023, Citigroup reaffirmed a “buy” rating, indicating some confidence in the stock’s potential. Conversely, Zacks Research downgraded the company from a “hold” to a “strong sell” rating on October 6, 2023, suggesting significant concerns regarding its performance. Additionally, JPMorgan Chase & Co. maintained a “neutral” rating on November 14, 2023, while Weiss Ratings reiterated a “hold (c)” rating on October 8, 2023. Morgan Stanley also revised its stance, lowering the rating from “equal weight” to “underweight” and setting a price objective of $300.00.
The latest quarterly earnings report, released on October 22, 2023, highlighted challenges for the transportation company. Grupo Aeroportuario del Sureste reported earnings per share (EPS) of $3.84, falling short of the consensus estimate of $5.26 by $1.42. The company achieved revenue of $478.54 million, significantly below the expected $502.91 million. Despite these results, the firm reported a return on equity of 17.47% and a net margin of 31.96%.
In a notable development, Grupo Aeroportuario del Sureste announced an annual dividend of $8.1473, scheduled for payment on December 8, 2023. Shareholders of record as of November 26, 2023 will receive this dividend, representing a remarkable yield of 271.0%. The ex-dividend date is also November 26, 2023, and the company’s dividend payout ratio currently stands at 200.48%.
Institutional investors have recently adjusted their positions in Grupo Aeroportuario del Sureste, reflecting ongoing interest despite the mixed ratings. Assetmark Inc. significantly increased its holdings by 494.7% during the second quarter, now owning 113 shares valued at approximately $36,000. Hantz Financial Services Inc. also reported a dramatic boost of 13,800.0% in its stake, accumulating 139 shares worth about $44,000 after acquiring additional shares during the same period.
Other institutional players include the State of Wyoming, which purchased a new stake valued at around $46,000, and EverSource Wealth Advisors LLC, which increased its holdings by 766.7% during the second quarter, now owning 156 shares worth $50,000. Hedge funds and institutional investors collectively own 10.57% of the company’s stock, indicating a substantial interest in its operations.
Grupo Aeroportuario del Sureste operates airports in southeastern Mexico, including major destinations such as Cancún, Cozumel, and Mérida. The company’s performance and the mixed ratings from analysts highlight the complexities of the aviation sector and investor sentiment amid a challenging economic landscape. As the company navigates these market dynamics, its next financial disclosures will be closely monitored by analysts and investors alike.
