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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up prior to trading on Wednesday . The stock had previously closed at $50.40, but opened at $52.53. Grupo Financiero Banorte SAB de CV shares last traded at $50.50, with a volume of 11,198 shares traded.

Analyst Ratings Changes

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

Grupo Financiero Banorte SAB de CV Stock Performance

The firm has a 50 day moving average of $54.98 and a 200-day moving average of $53.34. The company has a market cap of $29.84 billion, a P/E ratio of 9.35, a PEG ratio of 0.94 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued 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). The firm had revenue of $2.56 billion for 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 22.08%. As a group, sell-side analysts anticipate 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.