Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Here’s Why

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $55.48, but opened at $58.65. Grupo Financiero Banorte SAB de CV shares last traded at $56.10, with a volume of 1,201 shares changing hands.

Grupo Financiero Banorte SAB de CV Price Performance

The stock’s 50-day moving average is $54.76 and its 200 day moving average is $55.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $31.91 billion, a PE ratio of 9.56, a P/E/G ratio of 1.22 and a beta of 0.70.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.25%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. As a group, equities analysts expect that Grupo Financiero Banorte SAB de CV will post 6.46 earnings per share for the current year.

Grupo Financiero Banorte SAB de CV Company Profile

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.