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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $47.04, but opened at $45.69. Grupo Financiero Banorte SAB de CV shares last traded at $47.3150, with a volume of 2,405 shares traded.

Grupo Financiero Banorte SAB de CV Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.23. The business has a 50 day moving average price of $47.65 and a 200-day moving average price of $46.58. The company has a market capitalization of $26.46 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 1.40 and a beta of 0.84.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its earnings results on Wednesday, November 5th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.18). Grupo Financiero Banorte SAB de CV had a return on equity of 21.99% and a net margin of 12.92%. Research analysts predict that Grupo Financiero Banorte SAB de CV will post 4.84 EPS for the current fiscal 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.