Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Issues Earnings Results, Beats Expectations By $0.01 EPS

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) posted its quarterly earnings results on Tuesday. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01, Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 22.25% and a net margin of 14.97%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion.

Grupo Financiero Banorte SAB de CV Stock Performance

Shares of Grupo Financiero Banorte SAB de CV stock opened at $55.22 on Thursday. Grupo Financiero Banorte SAB de CV has a 52 week low of $41.70 and a 52 week high of $62.89. 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 has a 50 day moving average price of $53.40 and a 200-day moving average price of $54.51. The company has a market cap of $31.07 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.