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 prior to trading on Tuesday . The stock had previously closed at $54.26, but opened at $56.60. Grupo Financiero Banorte SAB de CV shares last traded at $53.98, with a volume of 2,412 shares trading hands.

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 note on Monday, March 30th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

The stock has a market capitalization of $29.98 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. 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 fifty day moving average of $53.92 and a 200-day moving average of $54.12.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued 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). The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%. Equities analysts anticipate 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.