Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Crosses Above 50 Day Moving Average – What’s Next?

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $55.14 and traded as high as $55.58. Grupo Financiero Banorte SAB de CV shares last traded at $54.99, with a volume of 120,555 shares trading hands.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $55.14 and a two-hundred day simple moving average of $52.70. The stock has a market capitalization of $30.94 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.03 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted 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). The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.39 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.95%. On average, equities analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 EPS for the current fiscal 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.