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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $54.06, but opened at $56.48. Grupo Financiero Banorte SAB de CV shares last traded at $53.86, with a volume of 4,203 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research cut Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Price Performance

The stock has a 50-day moving average price of $54.73 and a 200 day moving average price of $53.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $30.11 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.04 and a beta of 0.70.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. As a group, equities research analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 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.