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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $50.40, but opened at $52.53. Grupo Financiero Banorte SAB de CV shares last traded at $50.50, with a volume of 11,198 shares trading hands.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $28.36 billion, a P/E ratio of 8.89, a P/E/G ratio of 0.94 and a beta of 0.70. The business’s fifty day simple moving average is $55.08 and its two-hundred day simple moving average is $53.28.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.56 EPS 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. As a group, 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.