Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Releases Earnings Results, Beats Estimates By $0.09 EPS

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) released its earnings results on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09, Zacks reports. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.30%.

Grupo Financiero Banorte SAB de CV Stock Down 2.1%

OTCMKTS GBOOY traded down $1.19 during mid-day trading on Tuesday, hitting $56.02. The company’s stock had a trading volume of 36,701 shares, compared to its average volume of 54,007. The company’s 50 day simple moving average is $55.66 and its 200 day simple moving average is $55.25. Grupo Financiero Banorte SAB de CV has a twelve month low of $45.00 and a twelve month high of $63.81. 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 firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.33 and a beta of 0.71.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of 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 company currently has a consensus rating of “Sell”.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.