Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Large Volume Increase – Should You Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares saw an uptick in trading volume on Friday . 205,313 shares were traded during trading, an increase of 265% from the previous session’s volume of 56,277 shares.The stock last traded at $51.47 and had previously closed at $51.9150.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut 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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

The stock’s 50-day simple moving average is $53.54 and its 200 day simple moving average is $54.31. 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 company has a market capitalization of $29.08 billion, a PE ratio of 9.11, a P/E/G ratio of 0.97 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%.The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. As a group, research analysts expect 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.