A key reason for this move has been the positive trend in the earnings estimate revisions picture. For BMA’s full year estimate, we have seen 2 estimates go higher in the past 30 days, compared to no lower. This trend has helped the consensus estimate to trend higher, going from $5.69 a share a month ago to its current level at $6.13.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, BMA has seen some pretty solid trading lately, as the company has moved higher by 22.7% in the past month.
If Banco Macro can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put BMA on your watch list for the future.
Other top-ranked stocks worth considering in this space include ICICI Bank Ltd. (IBN), Westpac Banking Corporation (WBK), and Grupo Financiero Galicia S.A. (GGAL). All these carry a Zacks Rank #1 (Strong Buy).
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