Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Posts Quarterly Earnings Results

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) issued its quarterly earnings data on Tuesday. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09, Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 23.48% and a net margin of 15.88%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.22 billion.

Grupo Financiero Banorte SAB de CV Trading Down 1.1%

Shares of GBOOY opened at $55.41 on Thursday. Grupo Financiero Banorte SAB de CV has a fifty-two week low of $45.00 and a fifty-two week high of $63.81. The stock has a market capitalization of $31.18 billion, a PE ratio of 8.79, a P/E/G ratio of 1.30 and a beta of 0.73. The company’s fifty day moving average is $55.65 and its 200 day moving average is $55.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.77 and a current ratio of 0.77.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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.