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

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up before the market opened on Tuesday . The stock had previously closed at $52.99, but opened at $55.30. Grupo Financiero Banorte SAB de CV shares last traded at $53.1850, with a volume of 10,143 shares trading hands.

Wall Street Analyst Weigh In

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

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a market capitalization of $29.79 billion, a P/E ratio of 9.34, a PEG ratio of 0.98 and a beta of 0.70. The stock’s fifty day moving average price is $54.27 and its 200-day moving average price is $53.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings data 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 business 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, research analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.47 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.