Banco Macro S.A. (BMA) was a big mover last session, as its shares rose nearly 12% on the day. The rise came on solid volume too with far more shares changing hands than in a normal session. This continues the uptrend for the company since Feb 5, as the stock is now up roughly 35%.
In the last 30-day frame, the company witnessed one positive estimate revision for the upcoming quarter and the Zacks Consensus Estimate also moved higher, suggestive of more solid trading ahead. So make sure to keep an eye on this stock going forward to see if Friday’s jump can translate into more strength down the road.
Banco currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Other better-ranked stocks in the foreign banks sector include HDFC Bank Ltd. (HDB), Lloyds Banking Group plc (LYG) and The Royal Bank of Scotland Group plc (RBS). All three sport a Zacks Rank #2 (Buy).
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