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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped up prior to trading on Friday. The stock had previously closed at $55.43, but opened at $58.83. Grupo Financiero Banorte SAB de CV shares last traded at $55.88, with a volume of 2,247 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a research note on Monday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Grupo Financiero Banorte SAB de CV Price Performance

The firm has a market cap of $31.43 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.29 and a beta of 0.71. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $55.46 and a two-hundred day moving average price of $55.03.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.30%. As a group, equities analysts expect that Grupo Financiero Banorte SAB de CV will post 6.13 earnings per share for the current year.

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.