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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares gapped down before the market opened on Thursday . The stock had previously closed at $57.77, but opened at $54.28. Grupo Financiero Banorte SAB de CV shares last traded at $54.0650, with a volume of 18,300 shares trading hands.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Banorte SAB de CV Stock Performance

The stock’s fifty day moving average is $55.29 and its two-hundred day moving average is $53.08. The firm has a market capitalization of $29.36 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.39 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. Analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 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.