Zacks Research Downgrades Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) to Hold

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

Grupo Financiero Banorte SAB de CV Stock Up 4.5%

Shares of Grupo Financiero Banorte SAB de CV stock opened at $55.46 on Monday. The company has a fifty day moving average price of $56.05 and a 200 day moving average price of $50.92. 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 has a twelve month low of $32.00 and a twelve month high of $62.89. The stock has a market cap of $31.20 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.01 and a beta of 0.81.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. The company had revenue of $2.30 billion for the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. Equities research analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 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.