Revenue Update on Banco Macro SA (ADR)(NYSE:BMA)

Banco Macro SA (ADR)(NYSE:BMA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $298.51M. Analysts estimated a revenue of $327.98M. Earnings per share were $2.07. Analysts had estimated an EPS of $1.72.

In a different note, UBS said it Initiates Coverage on Banco Macro SA (ADR), according to a research note issued on Jun 1, 2016. The shares have been rated ‘Neutral’ by the firm.

Banco Macro SA (ADR) (BMA) shares turned negative on Wednesdays trading session with the shares closing down -0.33 points or -0.43% at a volume of 71,487. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $76.72. The peak price level was also seen at $76.72 while the days lowest was $75. Finally the shares closed at $75.69. The 52-week high of the shares is $80.83 while the 52-week low is $35.93. According to the latest information available, the market cap of the company is $4,425 M.

Banco Macro S.A. (the Bank) is a bank. The Bank offers traditional bank products and services to companies including those operating in regional economies as well as to individuals. The Bank offers savings and checking accounts credit and debit cards consumer finance loans (including personal loans) mortgage loans automobile loans overdrafts credit-related services home and car insurance coverage tax collection utility payments automatic teller machines (ATMs) and money transfers. The Bank offers Plan Sueldo payroll services lending corporate credit cards mortgage finance transaction processing and foreign exchange. The Bank offers transaction services to its corporate customers such as cash management customer collections payments to suppliers payroll administration foreign exchange transactions foreign trade services corporate credit cards and information services such as its Datanet and Interpymes services.

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