Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $54.22 and traded as high as $57.33. Grupo Financiero Banorte SAB de CV shares last traded at $56.91, with a volume of 24,130 shares traded.

Grupo Financiero Banorte SAB de CV Stock Up 1.3%

The company has a market capitalization of $32.02 billion, a PE ratio of 9.60, a P/E/G ratio of 1.24 and a beta of 0.70. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $54.22 and a two-hundred day simple moving average of $55.27.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a return on equity of 22.25% and a net margin of 14.97%.The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Research analysts expect that Grupo Financiero Banorte SAB de CV will post 6.46 EPS 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.