Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – What’s Next?

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up before the market opened on Wednesday . The stock had previously closed at $55.18, but opened at $60.51. Grupo Financiero Banorte SAB de CV shares last traded at $55.61, with a volume of 1,625 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Grupo Financiero Banorte SAB de CV presently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Trading Up 3.0%

The firm has a market capitalization of $32.37 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.04 and a beta of 0.71. The business’s 50-day simple moving average is $55.27 and its two-hundred day simple moving average is $52.98. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.39 billion. Equities analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 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.