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

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $54.06, but opened at $56.48. Grupo Financiero Banorte SAB de CV shares last traded at $53.86, with a volume of 4,203 shares trading hands.

Analyst Upgrades and Downgrades

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

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Grupo Financiero Banorte SAB de CV Stock Down 1.0%

The firm has a market cap of $30.11 billion, a PE ratio of 9.44, a PEG ratio of 1.04 and a beta of 0.70. 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 firm has a 50 day moving average price of $54.73 and a 200-day moving average price of $53.68.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY – Get Free Report) last released its 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). Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%.The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Research 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

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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.

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