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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up before the market opened on Tuesday . The stock had previously closed at $54.26, but opened at $56.60. Grupo Financiero Banorte SAB de CV shares last traded at $53.98, with a volume of 2,412 shares traded.

Wall Street Analyst Weigh In

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

Grupo Financiero Banorte SAB de CV Price 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 company has a 50 day simple moving average of $54.00 and a 200 day simple moving average of $54.02. The stock has a market cap of $30.19 billion, a P/E ratio of 9.46, a PEG ratio of 1.01 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%.The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. Sell-side analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share 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.