Mexican airport operators: I've had ASR on my watch list for almost three years. I was wrong in 2005 when I sold ASR assuming the stock would falter while Cancun was being rebuilt (from hurricane Emily destruction). That was the time to buy, not sell:
finance.yahoo.com
And I have been too hesitant to buy as stock moved up.
Anyway, at this point I've spotted a similar operator, [t]OMAB[/t], on new lows list. I'm buying a few exploratory shares.
OMAB has the (monopolistic) concession for different cities from ASR (and that may be a big and significant point in evaluating these companies. (ASR being more desirable?) I do not know.), trades at a forward p/e of about 13-14 and has a dividend yield of 3.8% (according to Yahoo).
I don't have much faith in bureaucratic Mexican entities (which OMAB may or may not be one), so to me, it's a positive that OMAB is tied somewhat to Aeroports de Paris, a company I suspect is the premier operator of airports in the world. ("OMA's strategic shareholder members are ICA, Mexico's largest engineering, procurement, and construction company, and Aeroports de Paris Management, subsidiary of Aeroports de Paris, the second largest European airports operator."
biz.yahoo.com
I am betting that although we may or may not be in a recession, that oil/gas may or may not have peaked, that airlines may or may not continue to merge or go bk, people will still want to travel between their families in Mexico and USA, tourism is still desirable, and some people - enough people - will still have money to view travel to/from OMAB's cites as important, and OMAB's airports are a viable business. |
