Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Upgraded by Zacks Research to “Strong-Buy” Rating

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Grupo Financiero Banorte SAB de CV Stock Down 5.4%

Shares of OTCMKTS GBOOY opened at $56.32 on Thursday. Grupo Financiero Banorte SAB de CV has a 12 month low of $32.00 and a 12 month high of $60.70. The firm has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $47.60. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $31.69 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its earnings results on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The company had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. Equities analysts expect that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.