Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Should You Buy?

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 $53.6030, but opened at $57.34. Grupo Financiero Banorte SAB de CV shares last traded at $55.30, with a volume of 2,232 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Grupo Financiero Banorte SAB de CV currently has a consensus rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Price Performance

The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a fifty day simple moving average of $54.64 and a two-hundred day simple moving average of $50.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.23 and a current ratio of 0.23.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The business had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. As a group, research analysts anticipate that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current 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.