에 대한 최신 뉴스 Banco Macro (NYSE:BMA) 주식

Banco Macro

Banco Macro SA is a financial institution and it provides standard banking products and services designed to suit individual needs. It has two categories of customers, retail customers, which include individuals and entrepreneurs, and corporate customers, which include small, medium, and large companies and corporations. In addition, it provides services to four provincial governments. It generates the majority of its revenue from Argentina.

Banco Macro S.A. ADR (representing Ten Class B Common Shares)

Banco Macro SA

BLACK MTN ACQUISITION CORP COM CL A

Innovator U.S. Equity Buffer ETF - March

Innovator U.S. Equity Buffer ETF - May

BANCO MACRO ADR REP TEN CL B ORD

U.S. stocks were higher, with the Nasdaq Composite gaining around 150 points on Friday.
Shares of Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) rose during Friday's session after the company reported <a href="https://www.benzinga.com/news/earnings/24/08/40639373/marvell-technology-stock-climbs-on-q2-strong-q3-guidance">better-than-expected quarterly sales results.</a>
Marvell reported quarterly GAAP earnings of 30 cents per share, in-line with the analyst consensus estimate. Quarterly sales came in at $1.27 billion, which beat the analyst consensus estimate by 1.65%.
Marvell Technology shares gained 6.1% to $74.09 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Leslie&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) shares jumped 18.2% to $2.9552.</li>
<li>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) gained 15.8% to $284.62 after the company reported better-than-expected second-quarter financial results and issued strong guidance on Thursday.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) jumped 15.3% to $5.56 after the company was awarded a $116.9 million NASA contract to deliver six science and technology payloads to the Moon.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) gained 10.7% to $1.1850. Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $3 price target.</li>
<li>BridgeBio Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) gained 10.1% to $27.09 in reaction to Alnylam Pharmaceuticals&#8217; detailed data from HELIOS-B Phase 3 study of vutrisiran. BridgeBio Pharma has ATTR-CM therapy acoramidis, currently under FDA priority review with an action date of November 29.</li>
<li>Cool Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLCO#NYSE">CLCO</a>) rose 9.6% to $12.06. Cool Co recently reported better-than-expected quarterly sales.</li>
<li>ZEEKR Intelligent Technology Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) gained 8.3% to $17.54.</li>
<li>Highest Performances Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPH#NASDAQ">HPH</a>) rose 7.9% to $1.9638.</li>
<li>Titan Machinery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) gained 7.9% to $15.36.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) rose 7.8% to $21.70 following a report suggesting the company is weighing options including splitting its product design and manufacturing businesses.</li>
<li>Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) gained 7.8% to $60.07. JP Morgan analyst Domingos Falavina upgraded Banco Macro from Underweight to Neutral and raised the price target from $14 to $78.</li>
<li>MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) gained 5.5% to $17.23 after the company reported fourth-quarter financial results and announced a share repurchase program of HK$2 billion.</li>
<li>Frontline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) gained 4.6% to $24.41 following strong quarterly sales.</li>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) rose 4% to $268.33 as the company posted better-than-expected second-quarter EPS and revenues on Thursday.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) gained 4% to $282.45. HSBC analyst Stephen Bersey upgraded CrowdStrike from Hold to Buy and raised the price target from $302 to $339.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40651658/this-is-a-very-speculative-situation-jim-cramer-on-adma-biologics">&#8216;This Is A Very Speculative Situation,&#8217; Jim Cramer On ADMA Biologics</a></li>
</ul>

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Marvell Technology Posts Upbeat Sales, Joins MongoDB, Intel, MINISO Group And Other Big Stocks Moving Higher On Friday

WIIM

Banco Marco shares are trading higher after JP Morgan upgraded the stock from Underweight to Neutral and raised its price target from $14 to $78.

JP Morgan analyst Domingos Falavina upgrades Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) from Underweight to Neutral and raises the price target from $14 to $78.

Upgrades

Price Target

Analyst Ratings

JP Morgan Upgrades Banco Macro to Neutral, Raises Price Target to $78

Banco Marco shares are trading higher. The company reported Q2 financial results.

Earnings

Banco Macro Q2 Net Income Ps.233.2B Loss; Net Interest Income Ps.188B Down From Ps.213.1B YoY

Banco Macro shares are trading higher after B of A Securities upgraded the stock from Underperform to Neutral and raised its price target from $53 to $62.

B of A Securities analyst Ernesto Gabilondo upgrades Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) from Underperform to Neutral and raises the price target from $53 to $62.

B of A Securities Upgrades Banco Macro to Neutral, Raises Price Target to $62

CADE

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Shares of banking companies are trading lower amid overall market weakness on US economic concerns.

BBAR

FITB

HMNF

HSBC

MUFG

VBFC

Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

SUPV

Telecom Argentina Stet - France Telecom S.A.

Shares of US-listed Argentina stocks are trading higher after Argentina's Senate passed the Bases law.

Deutsche Bank AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) benefits from a strong balance sheet position and revenue growth. Its strong liquidity profile aids sustainable capital distribution activities. However, a rise in expenses and a deterioration in credit quality are concerning.
Deutsche Bank continues to benefit from its deposit balance. The metric has witnessed a 2% CAGR over the last five years (ending in 2023) and the trend continued in the first quarter of 2024. Furthermore, the bank benefits from a diverse deposit base that spans multiple client categories and geographic regions. Also, as of Mar 31, 2024, the company&#39;s loan-to-deposit ratio was 75.7%, indicating a robust and steady capital foundation. We believe that a stable deposit level will benefit its balance sheet.
DB remains focused on strengthening its capital position. As of Mar 31, 2024, the Common Equity Tier 1 (CET 1) ratio was 13.4%. Risk-weighted asset (RWA) reductions and strong organic capital generation enabled the bank to see improvement in the CET1 ratio. As of Mar 31, 2024, &euro;15 billion of RWA reductions have been achieved, out of the target to reach &euro;25-30 billion in reductions by 2025-end. It expects to maintain a CET 1 ratio of approximately 13% by 2025.
Net revenues recorded a CAGR of 2.7% over the last five years (ended 2023), with this upswing persisting in the first quarter of 2024. Management is shifting focus from investment banking to more stable and capital-light businesses, like private bank, corporate bank and asset management units.
Shares of this Zacks Rank #3 (Hold) company have gained 20% on the NYSE over the past three months compared with the industry&#39;s growth of 10.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/68122.jpg?v=1559669298" />
Image Source: Zacks Investment Research
The bank has seen a deterioration in its credit quality. Its provision for credit losses witnessed a CAGR of 23.4% over the last five years (ended 2023), with the rising trend continuing in the first quarter of 2024. The current volatile economic backdrop is expected to affect credit quality in the near term. We project provisions to be &euro;1.67 billion and &euro;3.91 billion in 2024 and 2025, respectively.
Due to the nature of its business, Deutsche Bank is involved in litigation, arbitration and regulatory processes in Germany as well as a number of other jurisdictions. The bank has already incurred considerable legal settlement fees, which have had a negative impact on its finances.
<h3>Bank Stocks Worth Considering</h3>
Some better-ranked foreign bank stocks are Banco Macro S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>) and Bancolombia S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cib#NYSE">CIB</a>).
The consensus estimate for Banco Macro&#39;s current-year earnings has been revised 29.6% upward over the past 30 days. Over the past three months, shares of BMA have surged 69.9%. The stock currently sports a Zacks Rank #1 (Strong Buy).
Bancolombia S.A.&#39;s current-year earnings have been revised almost 1% upward over the past 30 days. Shares of CIB have gained 11.6% over the past three months. The stock currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2283456/deutsche-bank-s-db-deposit-base-aids-low-credit-quality-ails?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2283456">To read this article on Zacks.com click here.</a>

Deutsche Bank's Deposit Base Aids, Low Credit Quality Ails

Ita&uacute; Unibanco Holding S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/itub#NYSE">ITUB</a>) has announced a corporate internal restructuring plan. This will include the merger of its wholly-owned subsidiary, Hipercard Banco M&uacute;ltiplo S.A. (&quot;Hipercard&quot;), subject to approval from the Central Bank of Brazil. The cost associated with executing and implementing the transaction is estimated to be approximately R$180,000 ($34,843). 
As part of the effort, all activities currently managed by Hipercard, including the administration of bank cards, will be transferred to Ita&uacute; Unibanco. The primary purpose of this merger is to achieve greater synergy among the companies and activities of the ITUB conglomerate. This will help streamline costs and enhance efficiency. 
Following the completion of the transaction, Hipercard will be dissolved as an entity and its assets will be taken over by ITUB. This will lead to a reduction in maintenance costs, rationalization in administrative and commercial activities and an improvement in the overall corporate structure. 
Ita&uacute; Unibanco will take over Hipercard&#39;s equity worth R$2.68 billion ($518 million). The merger will not result in any increase in capital or the issuance of new shares of ITUB. There will be no exchange ratio. Also, rules relating to withdrawal rights for dissenting shareholders will not apply. Overall, the transaction will not have any financial impact on Ita&uacute; Unibanco. 
This strategic move highlights ITUB&#39;s ability to adapt to the trends of the rapidly evolving market and strengthen its competitive placement. Through such efforts, the company is well-poised to improve its market leadership and drive sustainable growth in the long run.
Over the past six months, the company&#39;s shares on the NYSE have lost 3.1% against the industry&#39;s growth of 14.4%. 
&nbsp;&nbsp;<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9d/67596.jpg?v=56193037" /> 
Image Source -&nbsp;Zacks Investment Research
At present, ITUB carries a Zacks Rank #3 (Hold).
<h3>Stocks to Consider</h3>
Some better-ranked foreign finance stocks are Bancolombia S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cib#NYSE">CIB</a>) and Banco Macro S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>). 
Bancolombia S.A.&#39;s current-year earnings have been revised upward marginally over the past 30 days. Shares of CIB have gained 26.4% over the past six months. The stock currently sports a Zacks Rank #1 (Strong Buy). 
The consensus estimate for Banco Macro&#39;s current-year earnings have been revised 29.6% upward over the past 30 days. Over the past three months, shares of BMA have gained 46.5%. The stock currently flaunts a Zacks Rank #1.
<a href="https://www.zacks.com/stock/news/2280215/itau-unibanco-itub-announces-merger-proposal-with-hipercard?cid=CS-BENZ-FT-analyst_blog|company_news_-_finance_sector-2280215">To read this article on Zacks.com click here.</a>

ITUB

Itau Unibanco Announces Merger Proposal With Hipercard

Reported Late Thursday, Banco Macro Q1 EPADS $5.02 Up From $2.83 YoY, Net Interest Income Ps.167.5B Down From Ps. 378.801B YoY

CEPU

MELI

Shares of US-listed Argentinan stocks are trading lower. March economic activity index reportedly declined year over year.

&#8220;I recommend investing in Argentina&#8221; — a few words from Elon Musk on social media platform X bolstered Argentine assets to new heights, underscoring investor confidence under new <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">President Javier Milei&#8217;s administration.</a>
The Global X MSCI Argentine ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>), which tracks the performance of leading Argentine stocks, registered over a 1% increase shortly after markets opened in New York. 
This marks the ETF&#8217;s eighth gain in nine sessions, culminating in a 54% rally since Milei&#8217;s election victory in November 2023.
The bullish sentiment extended to Argentine fixed-income assets, particularly dollar-denominated bonds. Notes maturing in July 2030 spiked to 55 cents on the dollar, more than doubling their value since the election of the libertarian President, who many now regard as having a Midas touch on the nation&#8217;s financial market.
Investor optimism has been particularly robust within the banking sector. Shares in major Argentine banks like Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>), Grupo Financiero Galicia S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>), and Banco BBVA Argentina S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAR#NYSE">BAR</a>) soaring by more than 100% since the start of the year.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I recommend investing in Argentina <a href="https://t.co/DIrcf8TsLN">https://t.co/DIrcf8TsLN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787654457339342932?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Chart: Milei&#8217;s Midas Touch On Argentine Stocks, Banks
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1024x495.png" alt="" class="wp-image-326127" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Argentina&#8217;s Central Bank Slashes Rates As Monthly Inflation</h3>
Earlier this month, Argentina&#8217;s central bank made a significant move by cutting the benchmark interest rate by 10 percentage points to 50%. 
This adjustment, the fifth since December and third in three weeks, was prompted by a noticeable slowdown in monthly inflation. 
At the end of 2023, the monthly inflation rate in Argentina surged to 25%, indicating a perilous path towards hyperinflation. 
March&#8217;s inflation data revealed a slowdown to 11% month-over-month, lower than the anticipated 12.1%.
In addition, Milei&#8217;s administration bolstered the country&#8217;s fiscal measures. In the first quarter of the year, Argentina achieved the first budget surplus in 16 years. 
&#8220;If the state does not spend more than it collects and does not issue (money), there is no inflation. This is not magic,&#8221; Milei stated.
<h3 class="wp-block-heading">IMF Commends Argentine Efforts</h3>
The International Monetary Fund (IMF) has praised Argentina for its &#8220;ambitious stabilization plan,&#8221; noting the country&#8217;s progress in restoring macroeconomic stability, as Julie Kozack, head of the Communications Department at the IMF, said in April. 
With improved fiscal management, rebuilding of international reserves, and better-than-expected inflation control, Argentina is seeing positive changes in key economic indicators.
In February, the IMF approved an immediate disbursement of $4.7 billion to Argentina, part of a larger effort to support the country&#8217;s economic reforms. This brings the total IMF disbursements under the current arrangement to approximately $40.6 billion.
Looking ahead, the Argentine government&#8217;s commitment to fiscal discipline and inflation control sets a promising course for continued economic recovery. With international support and robust policy measures, Argentine assets could continue to witness the continuation of their bullish momentum. 
Now Read: <a href="https://www.benzinga.com/news/24/05/38669520/elon-musk-is-all-hearts-for-jack-dorsey-calling-x-freedom-technology-after-quitting-twitter-killer-b">Elon Musk Is All Hearts For Jack Dorsey Calling X &#8216;Freedom Technology&#8217; After Quitting Twitter-Killer Bluesky</a>
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Elon Musk Endorses Argentine Stocks; Bond, ETF Rally Persists In Wake Of Milei's Election Victory

Momentum investing revolves around the idea of following a stock&#39;s recent trend in either direction. In the &#39;long&#39; context, investors will be essentially be &quot;buying high, but hoping to sell even higher.&quot; With this methodology, taking advantage of trends in a stock&#39;s price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance.
Below, we take a look at Banco Macro (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It&#39;s also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Banco Macro currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
Set to Beat the Market?
Let&#39;s discuss some of the components of the Momentum Style Score for BMA that show why this financial holding company shows promise as a solid momentum pick.
Looking at a stock&#39;s short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It&#39;s also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For BMA, shares are up 3.13% over the past week while the Zacks Banks - Foreign industry is up 2.22% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 6.64% compares favorably with the industry&#39;s 0.09% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Banco Macro have increased 48.41% over the past quarter, and have gained 190.45% in the last year. On the other hand, the S&amp;P 500 has only moved 4.62% and 27.46%, respectively.
Investors should also take note of BMA&#39;s average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, BMA is averaging 389,799 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with BMA.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BMA&#39;s consensus estimate, increasing from $4.26 to $9.13 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn&#39;t be surprising that BMA is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you&#39;re looking for a fresh pick that&#39;s set to soar in the near-term, make sure to keep Banco Macro on your short list.
<a href="https://www.zacks.com/stock/news/2264334/what-makes-banco-macro-bma-a-strong-momentum-stock-buy-now?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_10-2264334">To read this article on Zacks.com click here.</a>

What Makes Banco Macro a Strong Momentum Stock: Buy Now?

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Shares of companies within the broader financial sector are trading lower amid overall market weakness, offsetting strong bank earnings.

Argentine stocks experienced a surge on Thursday following rumors that the country is in discussions with the International Monetary Fund (IMF) <a href="https://www.benzinga.com/topic/argentina">for a new program.</a>
This initiative aims to secure additional funding, accelerating Argentina&#8217;s departure from its stringent capital controls, as reported by <a href="https://www.bloomberg.com/news/articles/2024-02-29/argentina-is-said-to-be-negotiating-new-aid-program-with-imf?sref=TBDibEcD">Bloomberg</a> citing a senior government official, who preferred to remain anonymous. 
The official revealed that the IMF is advocating for a quicker depreciation of the Argentinian currency under its &#8220;crawling peg&#8221; system. Additionally, the Fund is urging Argentina to maintain its interest rates above the current inflation rate, which has alarmingly reached approximately 250%.
<h3 class="wp-block-heading">Milei Assures Exit From Capital Controls By Mid Year</h3>
In an <a href="http://ft.com/content/4d789837-0408-4513-a0d7-0d6ce5a8c740">interview </a>with the Financial Times, Argentina&#8217;s newly-elected President Javier Milei conveyed his determination to advance reforms without the necessity for congressional approval, especially post-2025.
Milei&#8217;s strategy, as he states, aligns with academic recommendations and aims to eliminate dollar exchange controls by mid-year, potentially marking a &#8220;turning point&#8221; for Argentina. 
Despite potential challenges, Milei dismissed the likelihood of social unrest during his tenure, except in cases of foreign infiltration.
President Milei&#8217;s administration is keen on removing capital controls, with the IMF&#8217;s support being viewed as a crucial accelerator in this process. Milei believes that cleansing the central bank will pave the way for lifting exchange restrictions, a milestone the IMF estimates could be achieved by mid-year. 
However, Argentina&#8217;s economic landscape is under severe stress, with inflation spiraling uncontrollably. The country recorded a staggering 250% increase in its consumer price index in January 2024, marking the most significant inflationary jump in 33 years. 
Amid these challenges, Argentina&#8217;s ongoing financial obligations to the IMF loom large, with an outstanding debt of approximately $44 billion from a previous arrangement that failed to stay on course.
<h3 class="wp-block-heading">Market Response</h3>
The anticipation of a fresh agreement with the IMF led to a notable uptick in Argentine stocks on Thursday. The Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) saw a 2.2% increase, with its principal holding, MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), experiencing a 2% rise during early morning trading hours in New York. 
Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) emerged as the top gainer among Argentine&#8217;s American Deposit Receipts (ADRs), marking a surge of over 6%.
Since Milei&#8217;s electoral win, Argentine stocks have soared by nearly 20%. However, the momentum has plateaued over the last three months, as Milei administration&#8217;s reform initiatives have encountered significant resistance within the Argentine Congress, posing challenges to the government&#8217;s ability to implement its proposed changes swiftly.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1.png" alt="" class="wp-image-234424" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
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Regulations

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Economics

Argentine Stocks Rebound As President Milei Eyes Potential New IMF Deal, Exit From Capital Controls

Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-28. Here's what investors need to know before the announcement.
Analysts estimate that Banco Macro will report an earnings per share (EPS) of $1.71. 
Banco Macro bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.54, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Banco Macro's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.71</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.25</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-7.000000000000001%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709060519_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Banco Macro were trading at $36.95 as of February 26. Over the last 52-week period, shares are up 82.25%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/BMA/earnings">To track all earnings releases for Banco Macro visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Banco Macro's Earnings

Argentina&rsquo;s inflation rate was&nbsp;around 200% in 2023, <a href="http://www.reuters.com/world/americas/barbecue-off-menu-argentina-inflation-nears-200-2024-01-11/">according</a> to Reuters. Food prices in particular rose much faster than anticipated, making it hard for everyday citizens to afford basic staples like<a href="https://www.reuters.com/world/americas/barbecue-off-menu-argentina-inflation-nears-200-2024-01-11/" style="text-decoration-line:none"> </a>meat and vegetables.<a href="https://www.reuters.com/world/americas/barbecue-off-menu-argentina-inflation-nears-200-2024-01-11/" style="text-decoration-line:none">&nbsp;</a>
For many Argentines, this will not be their first battle with hyperinflation. In the &#39;90s, <a href="https://www.benzinga.com/topic/argentina">Argentina</a> experienced inflation that reached more than 2,000% annually, <a href="http://www.imf.org/external/pubs/ft/fandd/2000/03/pou.htm">according</a> to the International Monetary Fund<a href="https://www.imf.org/external/pubs/ft/fandd/2000/03/pou.htm" style="text-decoration-line:none">.&nbsp;</a>
Last November, Argentine citizens elected political outsider Javier Milei as the country&rsquo;s new president in a run-off election. Milei, who has a background as an economics professor, ran his campaign on bringing inflation down. His message resonated especially well with young adults who grew up during the hyperinflationary period in the &#39;90s.&nbsp;
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But, Milei has said it would&nbsp;take time for his administration to bring inflation lower. Milei has only been in office for about a month&nbsp;and things could get<a href="https://www.reuters.com/world/americas/barbecue-off-menu-argentina-inflation-nears-200-2024-01-11/" style="text-decoration-line:none"> worse before they get better. </a>One Argentine economist believed&nbsp;inflation could reach 500% this year, <a href="http://finance.yahoo.com/news/argentina-poised-surpass-venezuela-200-100000837.html">per </a>Yahoo Finance.&nbsp;
Part of Milei&rsquo;s efforts to curb inflation has been to cut back on government spending and subsidies. Some experts believe this could have the opposite effect and lead to higher prices for consumers in the short term. But, Milei plans to cut many government programs&nbsp;and hopes that without high government spending, inflation will cool in the long run.&nbsp;
Price Action:&nbsp;Overall, investors appear to be not too concerned with the economic situation in Argentina. Global X ETF&#39;s MSCI Argentina ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/argt#NYSE">ARGT</a>) is still up nearly 10% in the past six months. Other companies with significant exposure, like MercadoLibre Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meli#NASDAQ">MELI</a>) are also trading higher in the last six months. But, some individual names were hit in the last month, such as&nbsp;Telecom Argentina SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teo#NYSE">TEO</a>) and Banco Macro SA ADR&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>).&nbsp;
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Photo: Shutterstock
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BETR

BSBR

CLSK

COIN

FRHC

FUTU

MARA

PSEC

PYPL

QFIN

RIOT

SFBS

SOFI

Press Releases

Banco Macro Announces Results for the Third Quarter of 2023

Banco Macro Announces Results for the Fourth Quarter of 2023

Banco Macro S.A. Informs the Market of the Filing of its Annual Report on form 20-F for the Fiscal Year Ended December 31, 2023

Banco Macro Announces Results for the First Quarter of 2024

Banco Macro Announces Results for the Second Quarter of 2024

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Intercorp Financial Servs

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Grupo Supervielle

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Woori Financial Group

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B of A Securities

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