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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $55.63 and traded as high as $56.2940. Grupo Financiero Banorte SAB de CV shares last traded at $56.23, with a volume of 52,856 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Grupo Financiero Banorte SAB de CV Trading Down 0.6%

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $31.45 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 1.30 and a beta of 0.73. The company has a fifty day simple moving average of $55.62 and a 200-day simple moving average of $55.34.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, November 3rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. Grupo Financiero Banorte SAB de CV had a net margin of 15.88% and a return on equity of 23.48%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.22 billion. On average, research analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.01 earnings per share for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte is a Mexico-based financial services group whose principal banking subsidiary is Banco Mercantil del Norte, commonly known as Banorte. Its roots trace to Banco Mercantil de Monterrey, founded in 1899, and the group has grown through acquisitions and expansion in Mexico.

Banorte offers personal and commercial banking services, including deposit accounts, loans, credit cards, payments and digital banking. Its other businesses provide services such as retirement savings and pension management, insurance, brokerage, investment and asset management, and leasing and factoring.

The group primarily serves individuals, businesses and public-sector customers across Mexico.