Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Issues Quarterly Earnings Results

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) released its earnings results on Tuesday. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09, Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 22.30% and a net margin of 14.97%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.22 billion.

Grupo Financiero Banorte SAB de CV Price Performance

GBOOY opened at $56.02 on Wednesday. The stock has a market cap of $31.52 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.33 and a beta of 0.73. Grupo Financiero Banorte SAB de CV has a 12 month low of $45.00 and a 12 month high of $63.81. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $55.67 and a 200 day simple moving average of $55.28.

Wall Street Analysts Forecast Growth

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

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.