Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Price Breaks Below 50-Day Moving Average on Analyst Downgrade

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares crossed below its 50 day moving average during trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock has a 50 day moving average of $55.53 and traded as low as $54.01. Grupo Financiero Banorte SAB de CV shares last traded at $55.52, with a volume of 26,134 shares trading hands.

Grupo Financiero Banorte SAB de CV Price Performance

The firm has a market capitalization of $31.19 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.29 and a beta of 0.71. 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 business’s fifty day moving average is $55.48 and its 200 day moving average is $55.03.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 22.30% and a net margin of 14.97%. As a group, analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.13 EPS for the current year.

Grupo Financiero Banorte SAB de CV Company Profile

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.