Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Raises Dividend to $4.32 Per Share

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) announced a semi-annual dividend on Monday, May 19th, Wall Street Journal reports. Stockholders of record on Tuesday, May 27th will be paid a dividend of 4.3222 per share by the transportation company on Monday, June 9th. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, May 27th. This is a 11.8% increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $3.87.

Grupo Aeroportuario del Pacífico has raised its dividend by an average of 0.4% annually over the last three years.

Grupo Aeroportuario del Pacífico Trading Up 2.9%

Shares of NYSE:PAC traded up $6.44 during midday trading on Monday, reaching $228.91. The company’s stock had a trading volume of 83,407 shares, compared to its average volume of 73,020. The business has a 50 day moving average price of $195.74 and a 200 day moving average price of $189.78. Grupo Aeroportuario del Pacífico has a 1 year low of $146.62 and a 1 year high of $229.32. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.08. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $2.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.41). Grupo Aeroportuario del Pacífico had a net margin of 27.04% and a return on equity of 43.75%. The firm had revenue of $541.03 million for the quarter, compared to analysts’ expectations of $554.93 million. Research analysts forecast that Grupo Aeroportuario del Pacífico will post 10 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on PAC. StockNews.com raised Grupo Aeroportuario del Pacífico from a “sell” rating to a “hold” rating in a research report on Saturday, April 26th. Bank of America cut Grupo Aeroportuario del Pacífico from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 4th. Scotiabank upgraded Grupo Aeroportuario del Pacífico from a “sector perform” rating to a “sector outperform” rating in a research note on Monday. Jefferies Financial Group upgraded Grupo Aeroportuario del Pacífico from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $140.00 to $210.00 in a research note on Wednesday, February 12th. Finally, Barclays restated an “equal weight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $200.00.

Hedge Funds Weigh In On Grupo Aeroportuario del Pacífico

A hedge fund recently raised its stake in Grupo Aeroportuario del Pacífico stock. Goldman Sachs Group Inc. increased its holdings in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) by 65.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,976 shares of the transportation company’s stock after buying an additional 15,862 shares during the quarter. Goldman Sachs Group Inc. owned about 0.08% of Grupo Aeroportuario del Pacífico worth $7,416,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.73% of the company’s stock.

About Grupo Aeroportuario del Pacífico

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.