Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – What’s Next?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $55.18, but opened at $60.51. Grupo Financiero Banorte SAB de CV shares last traded at $55.61, with a volume of 1,625 shares traded.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Grupo Financiero Banorte SAB de CV presently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Trading Down 7.4%

The business has a fifty day moving average of $55.32 and a 200-day moving average of $53.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $30.10 billion, a P/E ratio of 9.43, a PEG ratio of 1.08 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate 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%. Analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share for the current fiscal 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.