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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up prior to trading on Tuesday . The stock had previously closed at $52.99, but opened at $55.30. Grupo Financiero Banorte SAB de CV shares last traded at $53.1850, with a volume of 10,143 shares traded.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Up 2.5%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The business’s 50 day moving average is $54.12 and its 200 day moving average is $53.89.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts expect that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share for the current 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.