Zacks Research Upgrades Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) to “Strong-Buy”

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Grupo Financiero Banorte SAB de CV Price Performance

OTCMKTS:GBOOY opened at $56.32 on Thursday. The stock has a 50 day moving average of $49.33 and a two-hundred day moving average of $47.60. Grupo Financiero Banorte SAB de CV has a 12 month low of $32.00 and a 12 month high of $60.70. The firm has a market cap of $31.69 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%.The firm had revenue of $2.30 billion for the quarter. On average, analysts expect that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal 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.