Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Strong Trading Volume – Should You Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) saw unusually-strong trading volume on Friday . Approximately 205,313 shares were traded during mid-day trading, an increase of 265% from the previous session’s volume of 56,277 shares.The stock last traded at $51.47 and had previously closed at $51.9150.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

The stock has a 50 day simple moving average of $53.63 and a 200 day simple moving average of $54.33. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.99 and a beta of 0.71.

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