GRUPO AEROPORTUARIO DEL CENTRO NORTE 'B' (MX), a company active in the Transportation Services industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date April 1, 2022, the closing price was MXN 151.15 and its e...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Grupo Aeroportuario del Centro Norte serves about 15% of the Mexican air travel market, and total passengers transported in 2018 increased about 10%, to 21.6 million. Even though it manages the most domestic airports among the three premier operators, it still services the smallest portion of total travelers due to materially fewer international travelers. Centro Norte serves smaller tourist destinations, but lacks a major hub for leisure traffic. Its airports serve areas and populations centere...
Wide-moat Centro Norte delivered first-quarter results that included an 11% nonconstruction top-line gain versus last year’s March quarter. This quarter’s revenue growth slipped behind average growth of 20% over the past two years because of unimpressive passenger traffic rather than per-passenger charges. Centro Norte’s aeronautical and nonaeronautical fees per passenger were up 5% and 9%, respectively. We are maintaining our 5% passenger growth forecast in 2019, mostly domestic, even tho...
Wide-moat Centro Norte delivered first-quarter results that included an 11% nonconstruction top-line gain versus last year’s March quarter. This quarter’s revenue growth slipped behind average growth of 20% over the past two years because of unimpressive passenger traffic rather than per-passenger charges. Centro Norte’s aeronautical and nonaeronautical fees per passenger were up 5% and 9%, respectively. We are maintaining our 5% passenger growth forecast in 2019, mostly domestic, even tho...
We’re reiterating our wide moat rating for Mexican airport operators and leaving our fair value estimates in place for Centro Norte and Pacifico, while raising Sureste’s fair value estimate per ADR to $197 from $192 (MXN 379 from MXN 368). Our fair value estimate for Sureste is higher on raised passenger traffic expectations in 2019 and 2020 following fourth-quarter results that outpaced our expectations. In each model we moved our flat growth period to 2021 and raised passenger growth in th...
We’re reiterating our wide moat rating for Mexican airport operators and leaving our fair value estimates in place for Centro Norte and Pacifico, while raising Sureste’s fair value estimate per ADR to $197 from $192 (MXN 379 from MXN 368). Our fair value estimate for Sureste is higher on raised passenger traffic expectations in 2019 and 2020 following fourth-quarter results that outpaced our expectations. In each model we moved our flat growth period to 2021 and raised passenger growth in th...
Grupo Aeroportuario del Centro Norte serves about 15% of the Mexican air travel market, and total passengers transported in 2018 increased roughly 10%, to 21.6 million. Even though it manages the most domestic airports among the three premier operators, it still services the smallest portion of total travelers due to materially fewer international travelers. Centro Norte serves smaller tourist destinations, but lacks a major hub for leisure traffic. Its airports serve areas and populations cente...
We raised our fair value estimate about 5% to MXN 109 from MXN 104 (to $45 per ADR from $43) for wide-moat Grupo Aeroportuario del Centro Norte stock following fourth-quarter results that beat our expectations and the time value of money. We raised our 2019 passenger growth estimations after examining 2018 results and early 2019 domestic and international passenger growth, which we believe reflects strong consumer confidence in Mexican air travel. We also raised our passenger traffic forecasts f...
We raised our fair value estimate about 5% to MXN 109 from MXN 104 (to $45 per ADR from $43) for wide-moat Grupo Aeroportuario del Centro Norte stock following fourth-quarter results that beat our expectations and the time value of money. We raised our 2019 passenger growth estimations after examining 2018 results and early 2019 domestic and international passenger growth, which we believe reflects strong consumer confidence in Mexican air travel. We also raised our passenger traffic forecasts f...
We raised our fair value estimate about 5% to MXN 109 from MXN 104 (to $45 per ADR from $43) for wide-moat Grupo Aeroportuario del Centro Norte stock following fourth-quarter results that beat our expectations and the time value of money. We raised our 2019 passenger growth estimations after examining 2018 results and early 2019 domestic and international passenger growth, which we believe reflects strong consumer confidence in Mexican air travel. We also raised our passenger traffic forecasts f...
We raised our fair value estimate about 5% to MXN 109 from MXN 104 (to $45 per ADR from $43) for wide-moat Grupo Aeroportuario del Centro Norte stock following fourth-quarter results that beat our expectations and the time value of money. We raised our 2019 passenger growth estimations after examining 2018 results and early 2019 domestic and international passenger growth, which we believe reflects strong consumer confidence in Mexican air travel. We also raised our passenger traffic forecasts f...
Grupo Aeroportuario del Centro Norte holds approximately 15% of the Mexican air-passenger market share, and total passengers transported in 2017 increased roughly 5%, to 19.7 million. Although the company operates more airports than competitors within the country, it lags in market share due to a lack of international travelers. Centro Norte serves smaller tourist destinations, but lacks a major hub for vacationers. Its airports serve areas and populations centered around economic activity, incl...
In a nonbinding referendum that was run by Andrés Manuel López Obrador’s MORENA political party, Mexicans have voted to scrap a new $14 billion Mexico City airport that was slated to begin operations in late 2020. Specifically, citizens who participated voted to recondition the existing Mexico City airport and build two additional runways at the Santa Lucia air base. Given the high profile nature of the airport project--it was a flagship infrastructure program for the PRI (Institutional Revo...
Grupo Aeroportuario del Centro Norte holds approximately 15% of the Mexican air-passenger market share, and total passengers transported in 2017 increased roughly 5%, to 19.7 million. Although the company operates more airports than competitors within the country, it lags in market share due to a lack of international travelers. Centro Norte serves smaller tourist destinations, but lacks a major hub for vacationers. Its airports serve areas and populations centered around economic activity, incl...
In a nonbinding referendum that was run by Andrés Manuel López Obrador’s MORENA political party, Mexicans have voted to scrap a new $14 billion Mexico City airport that was slated to begin operations in late 2020. Specifically, citizens who participated voted to recondition the existing Mexico City airport and build two additional runways at the Santa Lucia air base. Given the high profile nature of the airport project--it was a flagship infrastructure program for the PRI (Institutional Revo...
In a nonbinding referendum that was run by Andrés Manuel López Obrador’s MORENA political party, Mexicans have voted to scrap a new $14 billion Mexico City airport that was slated to begin operations in late 2020. Specifically, citizens who participated voted to recondition the existing Mexico City airport and build two additional runways at the Santa Lucia air base. Given the high profile nature of the airport project--it was a flagship infrastructure program for the PRI (Institutional Revo...
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