Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $53.52 and traded as high as $57.94. Grupo Financiero Banorte SAB de CV shares last traded at $57.2499, with a volume of 35,454 shares trading hands.

Grupo Financiero Banorte SAB de CV Trading Up 2.5%

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 business’s fifty day simple moving average is $53.55 and its two-hundred day simple moving average is $54.80. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.27 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.25%. On average, equities analysts predict that Grupo Financiero Banorte SAB de CV will post 6.43 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.