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

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up before the market opened on Wednesday . The stock had previously closed at $54.66, but opened at $60.51. Grupo Financiero Banorte SAB de CV shares last traded at $55.09, with a volume of 773 shares traded.

Analysts Set New Price Targets

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

Grupo Financiero Banorte SAB de CV Trading Down 0.4%

The firm’s 50-day moving average is $55.14 and its 200-day moving average is $52.81. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The firm has a market cap of $30.66 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.03 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly 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). Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.95%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. As a group, sell-side analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.47 EPS 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.