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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) 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 traded.

Wall Street Analyst Weigh In

Separately, Zacks Research raised 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 analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Trading Down 0.6%

The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The company has a market cap of $30.48 billion, a PE ratio of 9.97, a PEG ratio of 1.03 and a beta of 0.81. The stock has a 50 day moving average price of $55.28 and a 200 day moving average price of $50.47.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. The company had revenue of $2.30 billion for the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. Sell-side analysts predict that Grupo Financiero Banorte SAB de CV will post 4.84 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.