Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sets New 52-Week High Following Better-Than-Expected Earnings

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $57.63 and last traded at $57.2875, with a volume of 5045 shares changing hands. The stock had previously closed at $55.15.

The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a net margin of 12.92% and a return on equity of 21.99%. The company had revenue of $2.30 billion for the quarter.

Grupo Financiero Banorte SAB de CV Price Performance

The company has a market cap of $32.30 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The company has a fifty day simple moving average of $48.69 and a two-hundred day simple moving average of $47.35. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41.

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.