Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Breaks Below Fifty Day Moving Average – What’s Next?

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $55.55 and traded as low as $55.46. Grupo Financiero Banorte SAB de CV shares last traded at $55.52, with a volume of 47,435 shares trading hands.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Down 2.8%

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 firm has a market capitalization of $31.24 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.73. The business’s 50-day moving average price is $55.55 and its 200-day moving average price is $55.41.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.22 billion. Grupo Financiero Banorte SAB de CV had a net margin of 15.88% and a return on equity of 23.48%. As a group, equities research analysts predict that Grupo Financiero Banorte SAB de CV will post 6.01 EPS for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

Grupo Financiero Banorte is a Mexico-based financial services group whose principal banking subsidiary is Banco Mercantil del Norte, commonly known as Banorte. Its roots trace to Banco Mercantil de Monterrey, founded in 1899, and the group has grown through acquisitions and expansion in Mexico. Banorte offers personal and commercial banking services, including deposit accounts, loans, credit cards, payments and digital banking. Its other businesses provide services such as retirement savings and pension management, insurance, brokerage, investment and asset management, and leasing and factoring.