Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Time to Buy?

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up prior to trading on Monday . The stock had previously closed at $53.26, but opened at $59.8399. Grupo Financiero Banorte SAB de CV shares last traded at $53.50, with a volume of 779 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Price Performance

The company’s 50 day simple moving average is $53.79 and its 200 day simple moving average is $54.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $30.09 billion, a P/E ratio of 9.43, 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 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 firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. As a group, equities analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share 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.