Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up Following Analyst Upgrade

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up prior to trading on Friday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $58.23, but opened at $60.4675. Grupo Financiero Banorte SAB de CV shares last traded at $58.05, with a volume of 1,759 shares trading hands.

Grupo Financiero Banorte SAB de CV Trading Down 5.4%

The business’s 50 day moving average price is $49.33 and its two-hundred day moving average price is $47.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $31.69 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.63 and a beta of 0.83.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. The business had revenue of $2.30 billion during the quarter. On average, equities analysts predict that Grupo Financiero Banorte SAB de CV will post 4.84 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.