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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $53.26, but opened at $59.8399. Grupo Financiero Banorte SAB de CV shares last traded at $53.50, with a volume of 779 shares.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One investment 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 firm’s 50 day moving average price is $53.85 and its 200-day moving average price is $54.20. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.79 and a quick ratio of 0.79.

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