Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Down – Here’s Why

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped down prior to trading on Friday . The stock had previously closed at $52.8750, but opened at $51.2301. Grupo Financiero Banorte SAB de CV shares last traded at $53.54, with a volume of 4,843 shares.

Analyst Upgrades and Downgrades

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 MarketBeat, the stock currently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Trading Up 1.7%

The firm has a market cap of $30.25 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.00 and a beta of 0.71. The business’s 50 day moving average is $53.87 and its 200-day moving average is $54.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The company had revenue of $2.56 billion for 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 22.08%. As a group, analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 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.