Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Should You Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $54.0450, but opened at $56.44. Grupo Financiero Banorte SAB de CV shares last traded at $54.40, with a volume of 24,029 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Grupo Financiero Banorte SAB de CV presently has a consensus rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Stock Down 0.9%

The firm’s fifty day simple moving average is $55.54 and its 200-day simple moving average is $50.52. The company has a market cap of $29.99 billion, a PE ratio of 9.82, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. The business had revenue of $2.30 billion during the quarter. As a group, equities research analysts expect that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

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.