Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Releases Earnings Results, Misses Estimates By $0.07 EPS

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) released its earnings results on Tuesday. The company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.07), Zacks reports. The business 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 net margin of 14.23% and a return on equity of 22.95%.

Grupo Financiero Banorte SAB de CV Stock Down 0.8%

GBOOY stock opened at $56.15 on Thursday. The stock has a 50-day simple moving average of $55.87 and a two-hundred day simple moving average of $51.73. Grupo Financiero Banorte SAB de CV has a twelve month low of $39.94 and a twelve month high of $62.89. The firm has a market capitalization of $31.59 billion, a PE ratio of 9.90, a PEG ratio of 1.08 and a beta of 0.79. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41.

Wall Street Analyst Weigh In

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

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.