Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Down – Here’s What Happened

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $57.77, but opened at $54.28. Grupo Financiero Banorte SAB de CV shares last traded at $54.0650, with a volume of 18,300 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research lowered 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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Down 6.4%

The company’s 50-day moving average is $55.34 and its 200 day moving average is $53.05. The company has a market capitalization of $30.43 billion, a PE ratio of 9.54, a P/E/G ratio of 1.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. As a group, analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.47 EPS 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.