Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $55.63 and traded as high as $56.2940. Grupo Financiero Banorte SAB de CV shares last traded at $56.23, with a volume of 52,856 shares traded.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Performance

The stock has a market capitalization of $31.64 billion, a P/E ratio of 8.92, a P/E/G ratio of 1.29 and a beta of 0.73. The stock has a 50 day moving average of $55.63 and a 200 day moving average of $55.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.77 and a current ratio of 0.77.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its earnings results on Tuesday, November 3rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 23.48% and a net margin of 15.88%. Equities analysts predict that Grupo Financiero Banorte SAB de CV will post 6.13 EPS for the current year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.