The stock of Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) reached all time low today, Dec, 1 and still has $6.48 target or 4.00% below today’s $6.75 share price. This indicates more downside for the $9.19B company. This technical setup was reported by Barchart.com. If the $6.48 PT is reached, the company will be worth $367.60 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 3.78% or $0.26 during the last trading session, hitting $6.75. About 1.71 million shares traded hands. Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) has declined 23.22% since April 28, 2016 and is downtrending. It has underperformed by 29.15% the S&P500.
Analysts await Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) to report earnings on February, 3. They expect $0.17 earnings per share, down 10.53% or $0.02 from last year’s $0.19 per share. BSMX’s profit will be $231.45M for 9.93 P/E if the $0.17 EPS becomes a reality. After $0.15 actual earnings per share reported by Santander Mexico Fincl Gp SAB deCV (ADR) for the previous quarter, Wall Street now forecasts 13.33% EPS growth.
Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) Ratings Coverage
Out of 6 analysts covering Banco Santander Mexico (NYSE:BSMX), 1 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 17% are positive. Banco Santander Mexico has been the topic of 8 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, August 4 by JP Morgan. As per Friday, October 30, the company rating was upgraded by JP Morgan. The firm has “Neutral” rating by UBS given on Wednesday, September 7. Goldman Sachs downgraded it to “Sell” rating and $8.10 target price in Friday, September 23 report. The firm has “Neutral” rating by Bank of America given on Monday, January 11. The rating was upgraded by Goldman Sachs on Tuesday, July 21 to “Neutral”. The stock of Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) earned “Outperform” rating by Credit Suisse on Tuesday, October 13. The company was upgraded on Monday, October 26 by Citigroup.
According to Zacks Investment Research, “Grupo Financiero Santander Mexico SAB de CV is engaged in providing various banking services primarily in Mexico. It provides multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The company also offers pension and investment funds; cards and other structured products; and treasury management, merchant, trust, life insurance, online collection, tax payment, payroll, and cash management services. Grupo Financiero Santander Mexico SAB de CV is based in Mexico City, Mexico.”
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