Grupo Financiero Banorte SAB de CV (GBOOY) Expected to Announce Earnings on Wednesday

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) is expected to be announcing its resultson Wednesday, July 22nd. Analysts expect Grupo Financiero Banorte SAB de CV to announce earnings of $1.58 per share and revenue of $2.2852 billion for the quarter.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. On average, analysts expect Grupo Financiero Banorte SAB de CV to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Grupo Financiero Banorte SAB de CV Price Performance

Grupo Financiero Banorte SAB de CV stock opened at $51.65 on Tuesday. Grupo Financiero Banorte SAB de CV has a 52 week low of $41.70 and a 52 week high of $62.89. The company’s 50 day moving average price is $53.46 and its two-hundred day moving average price is $54.40. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock has a market cap of $29.06 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.97 and a beta of 0.71.

Wall Street Analyst Weigh In

Separately, Zacks Research cut 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.com, the stock has a consensus rating of “Hold”.

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.