Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Cross Below Fifty Day Moving Average on Analyst Downgrade

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) crossed below its 50-day moving average during trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock has a 50-day moving average of $55.53 and traded as low as $54.01. Grupo Financiero Banorte SAB de CV shares last traded at $55.52, with a volume of 26,134 shares trading hands.

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.71. The firm has a fifty day simple moving average of $55.51 and a 200 day simple moving average of $55.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.77 and a quick ratio of 0.77.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a return on equity of 22.30% and a net margin of 14.97%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.13 earnings per share for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.